The recovery in the gold price would probably not develop into another post-Trump spike as the cards remained stacked against the yellow metal, analysts said. Chief among those were the stronger dollar. The gold price recovered to more than $1,200 an ounce last week, after losing ground to $1,130 following Donald Trump’s election on November 8. On Monday, the gold price held strongly at $1,205 an ounce, despite the dollar firming to $1,0579 to the euro at one point. The dollar has been strengthening since November, but Trump’s disappointing press conference last week may have presented new opportunities for the precious metal after the dollar weakened from $1,04 to the euro to $1,06. It has also failed to strengthen to more than $1 to the euro. A number of factors are driving the gold price, said Nedbank Corporate and Investment Banking research head Mohammed Nalla. The medium-term outlook for the gold price is tied to central bank actions, particularly that of the US Federal Reserv...
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