Gold price solidly up; uncertainty on Trump's motives?
(Kitco News) - Gold prices hit daily highs and are trading solidly higher in morning dealings Friday. The yellow metal started to move to higher levels on the day when U.S. Treasury Secretary Mnuchin was being interviewed on CNBC, trying to explain why the Trump administration would try to stop an emergency government lending program for American citizens, and not extend it into next year, even though there was funding for it. There are growing notions in the marketplace that Trump’s recent actions, including the aforementioned, are aimed at making life as miserable as possible for incoming President-Elect Joe Biden. Notions appear to be growing regarding just what Trump may do over the next two months, as he fumes over losing the U.S. election and refuses to acknowledge such. This uncertainty and anxiety among many market participants could be prompting some safe-haven demand for gold. December gold was last up $13.70 at $1,875.00.