MTECHTIPS:-Gold rallies to 2-month peak as Trump jitters sink dollar

MTECHTIPS:-Gold rallies to 2-month peak as Trump jitters sink dollar

MTECHTIPS-Gold prices were sharply higher during North American morning trade on Monday, rising to the strongest level in about two months as the U.S. dollar sank amid uncertainty around the economic policies of new U.S. President Donald Trump. Gold for February delivery on the Comex division of the New York Mercantile Exchange touched a session high of $1,219.40 a troy ounce, a level not seen since November 22. It was last at $1,214.50 by 8:40 AM ET (13:40 GMT), up almost $10.00, or 0.8%. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down around 0.4% at 100.36 in early trade, after falling to 100.17 earlier, a level not seen since December 8. The dollar sold off amid disappointment that U.S. President Donald Trump’s inauguration speech on Friday proved light on detail over his plans for economic stimulus. Investors will be closely watching the first official Trump administration press briefing on Monday. President Trump is scheduled to appear at 1:30 PM ET (18:30 GMT). Looking ahead, there is expected broad market caution as President Trump will likely start rolling out executive orders in coming days. The U.S. President said Sunday he would start talks with Mexico and Canada to renegotiate the North American Free Trade Agreement (NAFTA). Additionally, Trump said he would pull the U.S. out of the Trans-Pacific Partnership (TPP)

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