MTECHTIPS:-Gold gains in Asia with Trump, Yellen in focus

MTECHTIPS:-Gold gains in Asia with Trump, Yellen in focus

MTECHTIPS- Gold prices gained in Asia on Wednesday with investors focused on the end of the week inaugural address by President-elect Donald Trump and a speech later in the day by Fed Chair Janet Yellen on monetary policy goals. Gold for February delivery on the Comex division of the New York Mercantile Exchange rose 0.11% to $1,214.15 a troy ounce with silver futures for March delivery gained 0.14% to $17.172 a troy ounce. Copper futures edged up 0.08% to $2.261 a pound after average new house prices in China’s 70 major cities rose 12.4% in December from a year earlier, slowing slightly from a 12.6% increase in November. Overnight, gold prices extended a recent rally to a seventh day on Tuesday, the longest stretch of gains since November, as the U.S. dollar plunged amid lingering uncertainty over Trump’s economic policies. The U.S. dollar collapsed to a five-week low against a basket of major currencies after Trump warned that the greenback was “too strong,” according to a report in the Wall Street Journal on Monday. Anthony Scaramouch, a senior member of Donald Trump’s economic advisory council, reiterated that sentiment on Tuesday, warning about the risk from a stronger dollar

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