Gold above $1,200 for the first time since November as Trump economic policy vacuum pulls investors away from equities

Share whatsapp Jasper Jolly Gold above $1,200 for the first time since November as Trump economic policy vacuum pulls investors away from equities Thursday 12 January 2017 10:06 am Gold usually moves in the opposite direction to the dollar, which hit 14-year highs during the post-election market euphoria.Read more: Risk-filled 2017 drives gold investor sentiment to highest level since 2012Gold – traditionally a safe-haven investment – fell steeply after the election of Trump, as investors moved their money into riskier equities. Trump was widely expected to pursue a de facto stimulus, with policies mentioned on the campaign trail including massive tax cuts and deregulation combined with a trillion-dollar spending spree.However, more details of the economic policies – which would be unprecedented for a Republican President – have failed to emerge.During a raucous press conference the US President-elect failed to mention fiscal policy, other than an aside on drug prices which stunned the pharmaceutical industry worldwide. whatsapp Read more: FTSE 100 gold miners lose their shine as prices slump to 10-month lowHe also claimed he would “be the greatest jobs producer that God ever created”, despite government statistics showing – and the vast majority of economists believing – the US economy nearing full employment.Trump gave no specific instances of how he would do this, but did mention the “trade imbalance” with China as a “disaster” for the US.David Morrison, senior market strategist at Spread Co, said: “Mr Trump had nothing to say about tax cuts, reducing regulation or infrastructure spending. This omission led to a sharp sell-off in the US dollar and a corresponding bounce in precious metals.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedTaco RelishGuests That Infuriated David Letterman And More FactsTaco RelishZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen Heraldmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Gold prices continued their rally from mid-December lows as investors edged back from the Donald Trump reflation story.Gold futures prices broke the $1,200 per troy ounce mark for the first time since late November, as the US dollar hit its lowest point for almost a month.

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