By: Mahmoud Gamal
Mubasher: Gold extended its gains on Thursday to hold above $1,170 per ounce, backed by the fallen US dollar and high demand of China and India.
Spot gold hit its highest levels since November to $1,173.6 per ounce by 03:30am GMT.
US gold futures were higher 0.8% to $1,174.09 per ounce.
The anticipation for Trump's policies and the approach of his official inauguration date pushed some investors towards sticking to the safe haven, technical analyst, Ragab Al Muhalaby, told Mubasher.
The analyst expected that gold would continue rising amid these givens, adding to the expected decrease of the US dollar to 1,180 – 1,200.
Silver rose 0.52% to $16.838 per ounce.
The US dollar index went down 0.28% to 102.17 points, to leave its highest levels achieved since 2002 on Tuesday.
Translated by: Sara Ghali
