« Gold jumps to 11-week peak amid Trump policy uncertainty, "...
Gold jumps to 11-week peak amid Trump policy uncertainty, soft dollar
“There is still some uncertainty regarding when Trump wants to implement his policies on major trading partners of the U.S., causing a lot of uncertainty in direction of dollar, which is the primary short-term catalyst driving bullish tone in gold price,” said Kelvin Wong, OANDA’s senior market analyst for Asia Pacific.
Trump held back from imposing trade barriers on his first day in office on Monday, pushing the dollar lower.
A weaker dollar makes gold more attractive for foreign buyers. Gold is considered a safe investment during economic and geopolitical uncertainty.
Trump vowed to hit the European Union with tariffs and said his administration was discussing a 10% tariff on goods imported from China starting Feb. 1.
https://www.cnbc.com/2025/01/22/gold-jumps-to-11-week-peak-amid-trump-policy-uncertainty-soft-dollar.html