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Trump uncertainties push gold to near all-time high

ByVictoria

Spot gold added 0.4% to $2,755.2 per ounce as of 02:29 p.m. ET (1629 GMT). Prices were at their highest since Oct. 31 when they hit their all-time high of $2,790.15.

“There are uncertainties with proposed tariffs and other things, and gold typically does well when there’s a large or even a moderate amount of uncertainty in the market, it’s a natural place where people gravitate to,” said Ryan McIntyre, senior portfolio manager at Sprott Asset Management

“(Trump) has been perhaps just a shade less hawkish on tariffs as feared, which helps — less/lower tariffs is taken to indicate lower inflation hence potential for more rate cuts,” said Tai Wong, an independent metals trader.

Source – Reuters

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