Gold Up 5.5% YTD – Hard Brexit Cometh and Weaker Dollar Under Trump
By: GoldCore
GoldSeek.com
Wednesday, 18 January 2017
GOLD PRICES UP 5.5% YTD – CONCERNS OF “CALAMITOUS SELF-HARM” TO EU FROM BREXIT AND TRUMP DOLLAR COMMENTS SUPPORT GOLD
Gold prices extended their run of gains to a seventh session and added another $12 to $1,215 an ounce yesterday. Gold prices have consolidated on those gains today and are now up 5.5% in dollar and sterling terms and 5% in euro terms year to date.
Gold bullion has risen every day except one so far in 2017, building on the 8.1 percent gain in 2016. Investors are concerned about the huge uncertainty facing us from a ‘Hard Brexit’ and the potential for political and financial contagion in the EU as we head into the new year.
Although the pound bounced higher after recent sharp falls, the FTSE 100 fell 1.5% and suffered worst day since immediate aftermath of the EU referendum.
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