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Gold Climbs On Trump’s Comments During State Of The Union Address

Kitco News

Gold Climbs On Trump’s Comments During State Of The Union Address

(Kitco News) - Gold prices rose in Asian trading as U.S. President Donald Trump delivered his first State of the Union address, in which he praised economic progress, called for cooperation and ordered to keep Guantanamo Bay prison open.

April Comex gold futures were last at $1,344.20, up 0.31% on the day.

In his speech, Trump touted stock market gains, tax cuts benefits and rising wages.

“Since the election we created 2.4 million new jobs,” Trump said in his first State of the Union address, delivered in the chamber of the House of Representatives.“This is our new American moment: To every citizen watching - this is your time.”

The U.S. President also urged cooperation, calling upon all sides to set aside differences and seek common ground. “Tonight, I am extending an open hand to work with members of both parties to protect our citizens, of every background, color, and creed,” he said.

Live 24 hours gold chart [Kitco Inc.]

Trump said he wants to resolve the immigration debate with the Democrats, stating that he would provide “Dreamers” — people brought illegally to the country as children — with a path to citizenship over the next twelve years in exchange for funding for a border wall with Mexico and additional restrictions on legal immigration.

“It’s finally time to bring our immigration rules into the 21st century,” Trump said.

When speaking about trade, Trump stated that U.S. has turned the page on “unfair trade deals” and warned to “expect trading relationships to be fair and reciprocal.”

In addition, Trump said he signed an order to keep the military detention facility at Guantanamo Bay opened.

“I just signed an order directing Secretary Mattis to reexamine our military detention policy and to keep open Guantanamo Bay,” he said.

During the speech, Trump also referred to the North Korean leadership as “depraved.”

“North Korea’s reckless pursuit of nuclear missiles could very soon threaten our homeland,” Trump said. “We are waging a campaign of maximum pressure to prevent that from ever happening.”

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