Gold holds near three-and-a-half-month highs
Metal slips to $1,254.90 as investors wait for US President Donald Trump to outline plans for tax cuts, infrastructure spending, levies on imports and foreign policy
London — Gold was softer on Monday, though still close to the three-and-a-half-month highs hit last week as investors waited for US President Donald Trump to outline plans for tax cuts, infrastructure spending, levies on imports and foreign policy. Spot gold was down 0.1% at $1,254.90/oz an ounce at 12.41am GMT, having touched its highest since November 11 at $1,260.10 on Friday. US gold futures were down 0.2% at $1,255.6. Trump is due to address congress on Tuesday. "What he reveals might be important for gold. For example, if he announces significant fiscal easing, that would raise inflation expectations and lead investors into gold," said Danske Bank analyst Jens Pederson. "But the border adjustment tax [import tax] could push the dollar higher and that could be negative for gold.... The whole area of foreign policy may mean more political uncertainty and that’s positive for gold." Analysts also expect nervousness ahead of elections in the Netherlands, France and Germany to help ...
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