Gold futures stayed relatively flat following the inauguration speech of US President Donald Trump. With the modest gains on Friday, the yellow metal posted its fourth consecutive weekly gain.
February gold futures rose $3.90, or 0.32%, to $1,205.40 per ounce at 17:26 GMT on Friday. Gold prices have been hovering around
Silver has also remained relatively unchanged. February silver futures climbed just $0.04, or 0.25%, to $17.04 an ounce. Silver also posted yet another weekly gain by advancing just under 2%.
The precious metals are staying flat due to the fact that the US president did not reveal anything different during his inauguration speech. He reiterated the same thing he has said for the last 18 months: creating jobs, imposing protectionist measures, improving trade, and reining in the politicians. Experts had hoped that he would reveal more insight into his plans for the next four years.
Gold was able to benefit from a weaker dollar as the greenback dipped. Investors ostensibly did not want to make too many investment moves on Inauguration Day. A stronger dollar is bad news for commodities like gold and silver because it makes it more expensive for foreign investors to purchase.
When it comes to potential moves this year in regards to interest rates, it looks like the Federal Reserve will pull the trigger on rate hikes. Due
Gold is sensitive to a
Gold has still started off the year strong as it has surged 6%
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