The market is beginning to doubt US President Donald Trump and his ability to push through
April gold futures climbed $5.60, or 0.45%, to $1,254.10 per ounce at 16:34 GMT on Monday. The last time gold prices traded at these levels was late February. Last week, gold recorded its second consecutive weekly gain of 1.3%.
Silver is also rallying to start the trading week. May silver futures rose $0.31, or 0.76%, to $18.06 an ounce. Silver also posted a weekly gain last week of 1.3%.
Precious metals have had a great 2017 so far.
Gold is jumping on Monday due to the market’s fear that President Trump cannot follow through on his campaign pledges to implement
The US dollar tumbled 0.6% on Monday, trading at a
Meanwhile, American stocks are plunging on Monday as the Dow Jones, NASDAQ, and S&P 500 are all seeing red.
With these trends at the forefront of the business headlines, investors are diving back into gold as a safe haven asset. According to new data from the US Commodity Futures Trading Commission (CFTC), hedge funds and money managers increased their net long positions in gold. This comes after two straight weeks of cuts and a Federal Reserve vowing to raise interest rates at least two more times this year.
The yellow metal is generally sensitive to rising rates as it lifts the opportunity cost and sends traders into
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