Gold Has Potential To Run Ahead of Trump Inauguration
Gold prices are holding above $1,200 an ounce after hitting two-month highs Tuesday.
KITCO NEWS - Gold prices are holding above $1,200 an ounce after hitting two-month highs Tuesday, and according to Kitco's global trading director Peter Hug, the metal could see more upside leading up to President-elect Donald Trump's inauguration on Friday. 'There's enough momentum in this market to get it into the $1,222-1,227 range before the inauguration on Friday,' he told Kitco News. Although he sees more upside ahead, Hug says there's still not enough momentum to be 'absolutely bullish.' 'But the market is stepping up and the technical pattern looks strong." February Comex gold futures settled the day at $1,212.90 an ounce, up more than 1% on the day.
