Gold News: Uncertainty Leads to Gold Gains
In the latest gold news: As of February 27 at 2:29am EST, gold was trading at $1256.76 per ounce, increasing week-over-week from its selling price of $1235.93 per ounce at approximately this time last Monday. Gold is nearing it highest selling price in 3.5 months, since November.
Treasury Secretary Steven Mnuchin announced on Thursday that President Trump’s tax plan is unlikely to have a significant impact this year. This sent gold up because in the long-term there is still so much uncertainty about what will happen with regards to implementation of new economic policy by the new Presidential Administration.
Another factor that has been sending the bullion up is the fact that the US dollar is weakening. Trump as well as many other leaders in the way of economic policy will be speaking this week and uncertain investors are upping their gold investments in anticipation.
In the two week long gold prediction ending February 24th, I Know First’s algorithm showed an impressive 100% accuracy rate, as seen in “Gold Outlook Based on Pattern Recognition: Over 3% in 14 Days.” After 14 days, I Know First’s average percent change came out to 2.66% with XAG as the top earner bringing in an impressive 3.88% return to investors.