Gold Regains Traction, Hits Session Highs Post-Trump

Kitco News -- Gold and financial markets saw strong volatility as President-elect Donald Trump held his first press conference since July and his first since winning the November election.

According to some analysts, the U.S. dollar, and equities sold off, supporting gold prices as Trump provided no new details on his economic and fiscal policies. Near the start of Trump's press conference, gold futures rallied nearly $10 as result of falling U.S. 10-year yields and a weaker U.S. dollar and equities.

Since wrapping up the press conference, gold has managed to hold on to some of its recent gains; February gold futures last traded at $1,187.50 an ounce, up 0.16% on the day.

This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.