Gold inches up on Trump’s threat to shut down government to build his wall
Bengaluru — Gold prices inched higher on Wednesday as the dollar slipped after remarks by US President Donald Trump raising the spectre of a government shutdown to fulfil a campaign pledge to build a wall on the border with Mexico. Spot gold was up 0.1% at $1,285.40 an ounce by 3.58am GMT, after shedding 0.5% in the previous session. US gold futures for December delivery were unchanged at $1,291.30/oz. The dollar edged down to its session low against the yen following Trump’s remarks. "If we have to close down the government, we are building that wall," Trump told supporters at a rally in Arizona. Elsewhere, markets were bracing for an annual gathering of central bankers at a meeting in Jackson Hole, Wyoming on Thursday and Friday, where Federal Reserve chairwoman Janet Yellen and European Central Bank chief Mario Draghi are set to deliver speeches on the outlook for monetary policy and interest rates. "Most of the people are now looking for hints from the Jackson Hole meeting betwe...
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