Gold risks appear skewed to the upside ahead of Trump's inauguration, as investors brace for policy changes that could have economic implications, said Pepperstone research strategists. Trump's executive orders are likely to dictate gold's direction in the coming weeks, he added. Gold is already up 3% YTD, above $2,700, amid political and trade uncertainty. If Trump imposes tariffs that disrupt trade flows and increase economic volatility, gold's role as a safe haven asset will be strengthened. Source: Newsmaker.id
Silver prices started to move up at the beginning of the European session on Monday (20/1), this was driven by the US Dollar (USD) factor which attracted new sellers and eroded most of Friday's positive movement amid speculation that the Federal Reserve (Fed) will cut interest rates twice this year. Meanwhile, at this time investors may also refrain from using aggressive tactics and choose to wait for Trump's inauguration speech. At the time of this news release, Gold was at the level of $30,380 Source: Newsmaker.id
Gold prices rose early in Asia on Tuesday (1/21), following President Donald Trump's inauguration on Monday and his statement to refrain from imposing massive trade tariffs on China and other countries on his first day in office, which weakened the U.S. dollar. Fears of a full-blown trade war eased somewhat, with Trump instead ordering his administration to address unfair trade practices globally and investigate whether Beijing has complied with agreements signed during his first term. Source: Newsmaker.id