Trump-Policy Concerns Send Gold Shooting to a Two-Month High
- Hedge Funds raise bullish bets on gold to most since December
- ETF holdings record longest stretch of gains since October
Trump Fears Seen Benefiting Gold Bulls
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Gold futures surged to the highest in more than two months as investors grow wary about the possible impact of U.S. President Donald Trump’s domestic and international policies.
Data on Friday showed U.S. wage growth slowed, reducing the odds of Federal Reserve rate increases this year and sending bullion to the biggest weekly gain since June. Uncertainty about Trump’s fiscal-stimulus policies and his administration’s spats with traditional allies helped push hedge funds’ bullish bets on gold to the most in almost two months.