Trump’s wild first week in office has caused the price of gold to soar

U.S. President Donald Trump holds breakfast meeting with small business leaders at the Roosevelt room of the White House in Washington U.S., January 30, 2017.

REUTERS/Carlos Barria

Stocks are getting pummeled, the Japanese yen is screeching higher and bonds are bid.

Risk aversion has taken hold in Asia, continuing the standard set in European and US markets before them.

It’s a climate that generally benefits the 14k gold price per gram price, and today is no exception.

As seen in the chart below, it’s just bounced back above the $US1,200 an ounce level in recent trade.

Thomson Reuters

While US dollar weakness has been a contributing factor, the latest foray above the $US1,200 level coincided with news that US president Donald Trump had

fired acting US Attorney General Sally Yates

after she defied him on his controversial executive order on immigrants and refugees.

1 Star2 Stars3 Stars4 Stars5 Stars Проголосуйте первыми