Gold price hits four-week peak amid Trump policy concerns
Gold prices rose to a near four-week high on Thursday, supported by safe-haven demand, while investors weighed how U.S. President-elect Donald Trump's policies would impact the economy and inflation.
Spot gold was up 0.3% at $2,670.16 per ounce, as of 10:55 a.m. ET (1555 GMT). U.S. gold futures rose 0.6% to $2,689.50.
«Safe-haven demand is modestly supporting gold, offsetting downside pressure coming from a stronger dollar and higher rates,» UBS analyst Giovanni Staunovo said.
The dollar index hovered near a one-week high, making gold less appealing for holders of other currencies, while the benchmark 10-year Treasury yield stayed near eight-month peaks.
«Market uncertainty is likely to persist with the upcoming inauguration of Donald Trump as the next U.S. president,» Staunovo said.
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