By: Mahmoud Gamal
Mubasher: Gold prices reached their highest level in two months amid the fall of the dollar against major currencies dollar and US bond returns, following President Donald Trump was sworn in.
Spot gold rose 1% by 4:15am GMT to $1,216 per ounce, its highest level since November 2015.
US gold futures increased 0.9% to $1,215.75 per ounce.
The US dollar (DXY), which tracks it against a basket of six currencies, rose 0.4% during the same time.
Gold is the primary beneficiary of this uncertainty that hits the markets and investors’ anxiety over the path of US policy to be adopted by Trump, according to Rajab Hamed, commodities analyst at Sabayik Al Kuwait Company.
Translated by: Julian Nabil
