Gold shines ahead of Trump’s return to the White House

Gold prices rose today, Monday, with the dollar falling amid the market’s anticipation of the start of US President-elect Donald Trump’s term later today and his inauguration speech to clarify the impact of the new administration’s policies on the economy and the path of interest rates.

By 0924 GMT, gold in spot transactions rose 0.1 percent to $2,704.85 per ounce. US gold futures fell 0.1 percent to $2,747.10 an ounce.

Trading is expected to be less than usual due to the US stock market being closed today on the occasion of Martin Luther King Day.

Trump’s inauguration takes place at noon EST today (1700 GMT).

“I think Donald Trump’s (presidency) will lead to increased volatility in the market, while some of his policies may keep inflation high for longer. This should continue to support safe haven assets such as gold,” UBS analyst Giovanni Stanovo said. .