Gold News: Big Changes in the US Mean Big Changes for Gold

Gold News

In the latest gold news: As of January 23 at 6:35am EST, gold was trading at $1212.55 per ounce. At approximately this time last week, gold was trading at $1203.20 per ounce, with gold nearing its 2-month high this week.

Whether you love him or hate him, you can definitely blame rising gold prices on newly-inaugurated US President Trump. Thoughts about Trump’s unpredictability have investors wondering which election promises and policies will he follow through on and what their impact will be on the US economy. This has investors on a mad dash to a certain favorite safe haven asset, gold. A weaker dollar makes gold a cheaper investment for foreign investors as well.

The better than expected US job data seemingly did not effect the price of gold in the way that it typically does. The President of the Philadelphia Federal Reserve Bank expects 3 interest rate hikes in 2017 if we continue to see strong reports and inflation.

In the 2-week long gold prediction ending January 19th , I Know First’s algorithm showed an impressive 100% accuracy rate, as seen in “Gold Price Outlook Based on AI: Over 3% Return in 14 Days.” After 14 days, I Know First’s average percent change came out to an impressive 3.51%.

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