Economics
Gold Returns to Pre-Election Trading Range Ahead of Trump Speech
- Bullion is on track for the fourth straight weekly gain
- Metal priced in euros posts highest close since September
Citigroup Sees Gold Topping $1,300 This Year
This article is for subscribers only.
Gold returned to levels seen before the U.S. election as equities retreated and the dollar vacillated ahead of a major speech next week by President Donald Trump.
The metal headed for a fourth straight weekly gain, the longest run since January, shaking off most of the losses incurred following the surprise election result, as markets continue to unwind the Trump trade. A pause in the stocks rally Friday has buoyed demand for the haven.