Gold News: Trump Uncertainty Sends Investors Rushing to Gold

Gold News

In the latest gold news: As of January 16 at 8:14am EST, gold was trading at $1203.20 per ounce. At approximately this time last week, gold was trading at $1,171.73 per ounce, with gold hitting its 7-week high this week.

Gold News

The increase in the price of gold this week is largely due to the upcoming inauguration of US Presidential Elect Donald Trump. There is a lot of uncertainty surrounding Trump’s policies which sends investors running to safe-haven investments such as gold. This week in particular Trump said the “One China” policy was up for negotiation to which China responded negatively basically telling Trump not to get involved. Another comment by Trump this week that rattled investors is the notion that NATO is obsolete and the thoughts of what Trump might do to the US’s position within the organization once he assumes office.

In data released this week, it was announced that Indian gold imports decreased by 48.49% in December down to the equivalent of $1.96 billion. This decreased India’s trade deficit as well to $10.36 billion as opposed to December 2015’s trade deficit of $11.5 billion.

In the 7-day long gold prediction ending January 11th , I Know First’s algorithm showed an impressive 80% accuracy rate, as seen in “Gold Price Forecast Based on AI: Almost 3% Return in 7 Days.” After 7 days, I Know First’s average percent change came out to an impressive 1.62%.

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