- Donald Trump's win also destabilised the market a bit impacting the dollar as well as gold rates.
- US Federal Reserve's indication that interest rates might see a hike can lead to more gains for gold in the new year.
The third day of this new year saw gold prices rising by 1% climbing to near a three-week high as investors turning to safe-haven bullion after early gains in stocks as well as other assets seemed risky to them.
The beginning of the new year saw more than 4% rise in platinum and palladium prices as investors wanted to secure their money at this period of time.
The end of 2016 saw the trend of persistence in wider markets, the rise of equities, and dollar index reaching a 14-year high led by firm economic data and numbers. This supported the gold prices that saw a jump on the beginning of this year.
The last year also saw Donald Trump's win at the presidential elections that also destabilised the market a bit impacting the dollar as well as gold rates.
Initially, after his win, gold took a fall whereas dollar received a boost. But, this is a temporary setback as many investors are still keen to invest in it. Since Trump's presidency can cause sudden disruption in the market, the investors feel that gold is still a good place to secure their position.
Further, US Federal Reserve's indication that interest rates might see a hike can lead to more gains for gold.
Last Updated 31, Mar 2018, 6:48 PM