Gold futures for April delivery climbed 0.9 percent to $1,231.80 an ounce at 12:37 p.m. on the Comex in New York. Gold futures extend its rally on Monday as investors are seeking a safer asset amid the uncertainties about President Donald Trump's fiscal stimulus policies. The rising political risk in the U.S. is also a factor that drives the demand of gold, which is considered as safe-haven asset in times of geopolitical and financial turmoil. Trump's fiscal stimulus policies, including tax cut and infrastructure investment, are expected to increase inflation. "I want to see what this administration, what sort of mistakes they're going to make."Roche also cited that expectation for higher inflation is another reason to buy gold.
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The precious metals opened solidly in the green in early trading on Monday, pushing spot gold up to nearly $1,230/oz, already its best intraday high in ten weeks. This has been the case recently, defying the traditional inverse correlation between the dollar and gold. The reversal of trends on the market (like the dollar and gold price not moving in opposite directions lately) seems to be a result of widespread uncertainty. Market ShiftSomewhat counterintuitively, the dollar was up on Monday even as gold and the other metals rallied. Meanwhile, platinum prices rose by about 0.9% to trade at $1,015/oz and spot palladium added 2.7% to move above $770/oz.
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collected by :Jack Luxor
according to
The precious metals opened solidly in the green in early trading on Monday, pushing spot gold up to nearly $1,230/oz, already its best intraday high in ten weeks. This has been the case recently, defying the traditional inverse correlation between the dollar and gold. The reversal of trends on the market (like the dollar and gold price not moving in opposite directions lately) seems to be a result of widespread uncertainty. Market ShiftSomewhat counterintuitively, the dollar was up on Monday even as gold and the other metals rallied. Meanwhile, platinum prices rose by about 0.9% to trade at $1,015/oz and spot palladium added 2.7% to move above $770/oz.
read more visit us gold
collected by :Jack Luxor
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