Equityworld Futures, New York – The price of gold rallied to its highest level in seven weeks.
Statement elected president of the United States (US) Donald Trump has been supporting gold prices given the uncertainty in the financial markets. The sentiment that led to the US dollar under pressure.
Gold for February delivery rose US $ 11.10, or 0.9 percent, to US $ 1,196 per ounce.
The price of gold moved to its highest level since Nov. 22. Gold prices moved in the range of US $ 1,177-US $ 1,198.
Equityworld Futures | Statement Donald Trump Makes Gold prices Soaring High
“The conference press Donald Trump signifies seuatu style hyperbole unpredictable that bring volatility to the market.
The price of gold will react positively as the uncertainty created Trump but given moment,” said Brien Lundin, editor Gold Newsletter, as quoted from page MarketWatch Thursday (01/12/2017).
In addition, the US dollar index fell 0.4 percent to 101.57 against six major currencies.
The US dollar index briefly to its highest level at 103. The movement of the price of gold is influenced by the US dollar.
Market participants anticipate Trump fiscal policy to spur economic growth have made the US dollar rose five percent.
However, at the first conference Donald Trump did not make the impression.
Even tend to fear and worry against volatility in the coming months and years. “It means having a positive impact on risk-resistant assets like gold,” said Nico Pantelis, head of research Secular Investor.
In his press conference, Donald Trump denied that Russia had extorted. Mark O’Bryne, research director GoldCore see political uncertainty persists in the US. This does not bode well for the next four years for contributing to the tinggi.Bila geopolitical uncertainty continues then it could have an impact on the market.
“This resulted in the weakening of the US stock market and the opportunities in gold,” he said.
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