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MTECHTIPS:-Gold settled down by 0.24% on Monday

Tuesday, January 10, 2017 2:29
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MTECHTIPS:-Gold settled down by 0.24% on Monday

 

MTECHTIPS- Gold markets appear to be gearing up for the Trump administration, according to market analysts. The futures market for gold was up today by 0.91% to $1184.10. Silver prices increased too, up 0.97% to $16.68, during intraday trading. But gold settled at $1182.20, down 0.24%. Markets are reassessing views of the incoming Trump White House, analysts said. The precious metal had slid 12% in price since the election, and it has been anticipated that the president-elect’s policies would be inflationary. But there is some trimming of the early expectations, as investors now are adopting a wait and see attitude to economic growth. The President-elect is considering changes across a wide variety of government agencies and departments, and policy areas, according to Sean Spicer, a spokesman for the Republican National Committee (RNC), and the incoming White House press secretary. “Business-as-usual in Washington, D.C. is over,” said Spicer. “It is always good to get fresh eyes on the challenges facing any large operation.” For example, there will be significant changes in the U.S. intelligence community, as the first duty of any American president, per the Constitution, is defending America. “Changes have already begun with President-elect Trump installing key leaders who will put U.S. national security first, and completely remove politics from the equation,” said Spicer, in an e-mail. ” The President-elect and his policy team are planning a busy first day in office, during which he will get right to work implementing his America First agenda.” Among other, first day priorities: terminating President Obama’s “unconstitutional, job-killing, and dangerous” executive orders, said Spicer.

 

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