MTECHTIPS;-Gold rises to fresh 2-week high as Trump turmoil deepens

MTECHTIPS;-Gold rises to fresh 2-week high as Trump turmoil deepens

MTECHTIPS-Gold prices were higher in North American trade on Thursday, touching the strongest level in around two weeks as investors feeling increasingly nervous over the future of Donald Trump’s U.S. presidency sought safe havens for their money. Comex gold futures added around $1.00, or about 0.1%, to $1,260.29 a troy ounce by 8:00 AM ET (12:00 GMT). Meanwhile, spot gold was at $1,260.51. Prices of the yellow metal jumped to an overnight peak of $1,265.00, the most since May 1. Gold notched a sixth-straight winning session on Wednesday as investors fretted over the latest news coming out of Washington. Reuters reported earlier that former National Security Adviser Michael Flynn and others on Trump’s campaign team exchanged at least 18 undisclosed phone calls or emails with Russian contacts during the 2016 presidential race. That was only the latest worry in a tumultuous week at the White House, which included allegations that the president tried to interfere with a federal investigation and shared classified information with Russia’s foreign minister. The Justice Department on Wednesday appointed former FBI director Robert Mueller as special counsel to take over the investigation of Russia’s alleged interference in the U.S. presidential election.
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