Gold, on Thursday, January 12, leaped higher to hold near 7-week highs touched in the previous session, as the dollar weakened.
This came after Donald Trump provided little clarity on future fiscal policies in his first press conference as US President-elect.
Spot gold appreciated by 0.2 per cent at $1,193.31 per ounce. Bullion on Wednesday touched a high of $1,198.40, its best since Nov. 23. US gold futures fell 0.2 per cent to $1,193.70 per ounce.
In his first press briefing as US president-elect, Trump presided over a wide-ranging session that lasted longer than expected but contained no details on tax cuts and infrastructure spending, analysts said.
Trump’s campaign calls for tax cuts and more infrastructure spending have boosted US shares and the dollar, as well as driving a selloff in Treasuries, but his protectionist statements and a flurry of off-the-cuff Tweets have kept many investors from adding to risky positions. ..
The dollar index, which tracks the US currency against a basket of six major counterparts, was down 0.1 per cent at 101.65 , having hit a one-week high on Wednesday, EconomicTimes reports.
