Gold surges above %1 200 as details-shy Trump weighing on dollar

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(iStock)
(iStock)

London - Spot gold rallied as investors flooded back into funds backed by the metal and the dollar fell in the aftermath of Donald Trump’s heated press conference that provided little detail of his economic stimulus plans.

The metal is up more than 2% since the press conference started in New York on Wednesday, rising above $1 200 an ounce for the first time since late November and exchange-traded holdings jumped by the most since the election.
 
The US currency fell against all of its major peers, dropping 1.1% against the Japanese yen.

The President-elect spent much of his first press conference since winning the election attacking the media and intelligence agencies, as well as on explaining his plans to insulate his presidency from his business interest, disappointing those who had hoped to hear more of his fiscal plan.

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Rand - Dollar
14.00
+0.3%
Rand - Pound
19.82
+0.1%
Rand - Euro
17.02
+0.1%
Rand - Aus dollar
10.98
+0.1%
Rand - Yen
0.13
+0.1%
Gold
1,834.14
-0.1%
Silver
27.55
+0.9%
Palladium
2,930.50
-1.1%
Platinum
1,241.06
-0.8%
Brent Crude
68.32
+0.1%
Top 40
61,320
-1.7%
All Share
67,241
-1.7%
Resource 10
70,627
-2.1%
Industrial 25
84,184
-1.7%
Financial 15
12,659
-0.6%
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