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Wait For The Inaugural Conference Of The Trump Gold Prices Shine

Gold prices approached the highest level in the last six weeks ahead of the US presidential inaugural conference, Donald Trump and increased purchase of China before the Lunar New Year festival at the end of this month.

Trading on Wednesday (11/1) at 16:23 GMT, the price of spot gold rose 1.53 points or 0.13% heading to US $1.189,41 per troy ounce ($ 509.630 per gram). While comex gold contract February 2017 rising 4 points or 0.34% to US $1.189 .5 per troy ounce ($ 509.668,63 per gram).

As for the selling price of gold climb Antam Rp 3,000 to Rp 545.600 to Rp 585.000 per gram. While the buyback increase to Rp 5,000 to Rp 507.000 per gram.

Jingyi Pan, market strategist IG Asia in Singapore, said the conditions of uncertainty are rising ahead of the inaugural conference of the Donald Trump as Us President on Wednesday (11/1). The market is waiting for policy directions in the future, Uncle Sam from the speech.

Short term uncertainty ahead of the Conference, Trump made a demand for precious metals is increasing, so shiny price within three days in a row. Since the beginning of 2017 the price of gold also experienced a trend rise in the request along with the rise of China ahead of the lunar new year which falls on January 28.

“The market was disrupted by short-term uncertainty ahead of a speech by Trump, so that gold is experiencing a leap back after the support request is China,” he added as quoted from Bloomberg, Wednesday (11/1/2017).

Research Analyst PT & Monex Investindo Futures Yulia Safrina said, gold is experiencing a trend strengthened since the last week of December 2016 due to the expectations of the growing physical demand in China ahead of the lunar new year and the weakening of the dollar. On trade, December 27, 2016, the yellow stones are at the level of US $1,138,78 per troy ounce, which means it is already rising around US $50.

In the Conference’s formal Prime Trump, the market wants to see the clarity of the direction of the US economy, one of which is the trade relations with China. This condition bepotensi make the instability of financial markets so as to affect the price of gold.

According to Yulia, still it will be difficult to predict the future price of gold, because it depends on the inauguration of Donald Trump and the 100 days the property Tycoon’s leadership that affect US dollars. Federal Reserve although also still sees himself more policies that will run…(Red).

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