Bengaluru — Gold slipped on Monday as the dollar strengthened against the yen, with the greenback buoyed by a smooth meeting between US President Donald Trump and Japanese Prime Minister Shinzo Abe that saw no mention of currency policy. Spot gold shed 0.3%, to $1,229.77/oz at 3.20am GMT, while US gold futures fell 0.4%, to $1,231. The dollar index was up 0.16% to 100.960, with the greenback rising against the yen on relief that Trump set aside his tough campaign rhetoric over security and jobs in a meeting with the Japanese Prime Minister over the weekend. "Quietness on the protectionism front and a rekindling of the Trumpflation trade is taking the wind out of gold’s safe-haven sails," said Jeffrey Halley, senior market analyst at Oanda. A senior Japanese government spokesman said Abe and Trump did not discuss currency issues and that Trump did not request a bilateral trade deal. The dollar had suffered its worst January in three decades after Trump complained that every "other co...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.