Trump's economic policy Investors were looking ahead to an address by Trump to Congress next week for further clarity on his economic policy.
Trump told chief executives of major US companies on Thursday that he planned to bring millions of jobs back to the United States, but offered no specific plan on how to reverse a decade-long decline in factory jobs.
Meanwhile, US Treasury Secretary Steven Mnuchin had on Thursday laid out an ambitious schedule to enact tax relief for the middle class and businesses by August.
Mnuchin's comments “...signaling a delay until August of the much-vaunted tax reform package, gave gold bulls the uncertainty green light they needed to take the yellow metal higher,” said Jeffrey Halley, a senior market analyst at OANDA.
Political uncertainty
Political uncertainty, including elections in Europe, has offered broad support to gold, which has risen over 8 percent this year.
“Even in the event of a rate increase, we doubt the precious metal will lose much ground ahead of the key presidential elections in France in April, coupled with the Washington gridlock that seems to be calcifying with greater intensity after each passing day,” Meir said.
Spot gold may gain more to $1,278 as it has more or less broken above a resistance at $1,249, Reuters technical analyst Wang Tao said.
Trump's economic policy Investors were looking ahead to an address by Trump to Congress next week for further clarity on his economic pol... read more ...
Silver acts as an inflation hedge, and in times of crisis, small quantities may be used for smaller, daily transactions compared to holding a tradi... read more ...
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Oil prices slid nearly 1 percent as worries about rising U.S. supplies outweighed OPEC pledges to boost compliance with output curbs.
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The Energy Information Administration (EIA) reported that natural gas in underground storage fell by 89 billion cubic feet ((bcf)) in the week endi... read more ...
Silver Price Equal Off with Notable Support
See the Webinar Calendar for a schedule of upcoming live events with Paul or... read more ...
BENGALURU, FEB 27:
Gold prices held firm on Monday near 3-1/2 month highs hit in the previous session, with investor...
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