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Gold buyers eye Trump's economic policy before taking positions

Globally, the metal has been a safe haven so far, due to Brexit, weaker Euro & rising crude prices

Dilip Kumar Jha  |  Mumbai 

Hedgers, investors and arbitrageurs are eyeing the upcoming economic policy of US President Donald Trump before taking positions in gold. Trading currently at $1,257 an oz in the London spot market, gold jumped by around 3 per cent over the last two weeks on stockists’ buying following a weakening of the euro.  A nearly 1.5 per cent appreciation in the rupee, however, reduced the impact on Indian consumers. Standard gold in India is trading at Rs 29,305 per 10 gm in Zaveri Bazaar. “In the near term, we see gold hitting $1,284 an oz. Trump is set to ...

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First Published: Sat, February 25 2017. 23:05 IST
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