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Gold Prices Could Hit $3,000 If Trump Puts His Threats to Work
Gold Prices Could Hit $3,000 If Trump Puts His Threats to Work
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Donald Trump took oath as the 47th President of the United States on Monday and will govern the nation for four years. Investors closely watch his statements, threats, and proposals on the U.S. economy and monetary policies. Gold prices hovered around the $2,707 mark when Trump took oath and surged nearly 5 points in the indices. The precious metal remains on the greener side of the spectrum and is looking to gain another leg-up. Traders are hopeful that Trump’s upcoming trade wars could benefit gold prices, as institutions could park their funds to hedge the markets. A leading commodity investor told Kitco News that gold prices could reach $3,000 if Trump sticks to his tariff threats. The markets could react strongly if these threats materialize.
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