Gold price hits two-month high - but runs out of steam again

Singapore (Jan 24)  The gold price jumped to another 2017 high last night and rose to its highest level since late November as worries over Donald Trump's protectionist policy agenda took hold.

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However, once again gains were pared, this time by the dollar rebounding from overnight lows, which saw prices drop to $1,211 this morning.

Spot gold touched $1,219 an ounce at one point last night, its highest since 22 November. That's an advance of one per cent from Friday's low and equates to a six per cent jump for January as a whole.

However, it is also around $120 an ounce below a peak on US election night on 8 November, says Mining.com.

Source: TjheWeek