Trump Paves the Golden Road
Gold might be heading for its best month since June 2016. Why? Well, one of the main reasons is the newly-appointed President Trump. The steps he took over the recent week has created uncertainty in global markets and sent some investors in seek of so-called “safe haven”.
After dropping around 13% in the fourth quarter of 2016, gold is currently up by over 4% in January[i], as Trump’s actions, including his withdraw from the Trans-Pacific Partnership and his statement regarding the wall with Mexico, raised concerns through the market. His recent decision to dismiss Acting Attorney General Sally Yates because of her refusal to support his executive order regarding immigration could just add fuel to the flames.
The one thing that could be balancing investors’ decisions for now is the possibility of a Fed rate increase. The Fed two-day meeting is scheduled to end tomorrow and US non-farm payrolls data will be released on Friday. Needless to say, for online investors any change in price is an opportunity. Stay informed and take advantage of market opportunities.
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Any indication of past performance of a financial instrument is not a reliable indicator of current and/or future performance of such financial instrument.