Gold prices hold steady after Trump’s state of the union speech
‘Gold clearly seems to be struggling right now, unable to build on its recent upside momentum,’ analyst Edward Meir says
Bengaluru — Gold prices held steady on Wednesday after US President Donald Trump, in his state of the union speech, vowed to build a border wall, but gave little clarity over developments in the ongoing trade discussions with China. Spot gold was steady at $1,314 per ounce at 4.31am GMT. US gold futures were also steady at $1,318 an ounce. Trump spoke in the chamber of the House of Representatives facing political discord over his demands that Democrats end their opposition to funding for a border wall he says is needed to stem illegal immigration and smuggled drugs. "There is a likely risk of another government shutdown with President Trump still sticking to the rhetoric of erecting a border wall," said Hitesh Jain, vice-president of Yes Securities, adding that a firmer dollar was capping gold's gains. "Market participants remain cognisant of the fact that global macro numbers are slowing. Gold as an investment avenue remains very much in the reckoning." Trump's demand for $5.7bn i...
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