Gold Plunges Back Towards Multi-Month Lows

[kreslik.news]

Gold prices are once again on the retreat as the US dollar rebounds from a brief pullback after significant momentum higher over the last two weeks.  Optimism that the economy will benefit from US President-elect Donald Trump’s sweeping proposals has been enough to fire up a rally in risk assets across the board, hurting haven assets such as gold, which are normally used to hedge against uncertainty.

Despite the fact that the next US government could run afoul of its objectives, gold prices reflect the overwhelmingly positive sentiment accompanying the proposed measures.

Should the case for further rate hikes continue to build ... (read more)