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MTECHTIPS:-Gold / Silver / Copper futures - weekly outlook: January 16 - 20

Monday, January 16, 2017 1:12

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MTECHTIPS:-Gold / Silver / Copper futures – weekly outlook: January 16 – 20

MTECHTIPS- Gold ended lower on Friday as investors took profits after prices hit a seven-week peak in the previous session, but still notched up a third consecutive weekly gain. Gold for February delivery settled down 0.21% at $1,195.3 on the Comex division of the New York Mercantile Exchange. The metal was still 1.98% higher for the week, helped by a broad weakening of the U.S. dollar. The U.S. dollar index posted its largest weekly decline since late October, shedding 1.0% as optimism cooled over President-elect Donald Trump’s economic policy proposals. The drop in the dollar came after Trump disappointed traders who had been hoping he would address economic and fiscal policies in his first formal news conference as U.S. president-elect. The dollar had rallied to 14-year peaks earlier this month on expectations that Trump’s policies would spur growth and inflation and prompt the Federal Reserve to raise interest rates more quickly

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