What to expect in 2017-18 from the gold market
Posted On July 20, 2021
Gold has soared in value since President Donald Trump took office, and the latest round of presidential nominations for the U.S. Securities and Exchange Commission (SEC) could boost gold prices.
The Dow Jones Industrial Average (DJIA) closed at 21,847.98 on Thursday, the best start to the year for the benchmark since May 2016.
The S&P 500 index of stocks surged 9.6 percent to 2,828.14.
The Nasdaq Composite index of companies, meanwhile, rose 2.4 percent to 6,966.43.
The S&p 500 rose 2 percent in 2017, while the Dow was up 5.6%.
The Nasional index rose 6.5 percent to 5,739.21.
The price of gold surged more than 2,000 percent in 2016, reaching its highest point since March, when Trump took the oath of office, the S&op 500 index showed.
The index rose more than 1,100 percent from the same month a year earlier.
Gold is often seen as a safe haven, with investors buying it in anticipation of an economic recovery.
But, while gold has seen strong gains, it has also been plagued by a lot of turmoil and market volatility.
The government’s crackdown on gold trading, the election of Trump, and a trade war between the U,S.
and China have all impacted the price of the precious metal.
Last week, Trump took aim at gold at a press conference.
“The Chinese are trying to take over our country,” he said.
“They’re stealing our gold.
They’re stealing so much gold.
So they’re trying to buy up as much gold as possible.
They have a big advantage.”
Trump also vowed to stop China from taking over the gold trade.
The President said the U of S was a big target because of its huge gold holdings.
“We have about 3,000 tons of gold and we’ve got another 3,500 tons of silver in our country.
And if they can’t get it out, we’re gonna take that money and use it against them, and we’ll have a lot more of that money,” he added.
Gold prices have also been rising amid concerns that Trump may take executive action on climate change, or at least try to renegotiate the Paris climate agreement.
On Monday, the U-S.
Trade Representative (USTR), a branch of the Commerce Department, issued a report that said the Trump administration would seek to increase its trade deficit with China by $200 billion.
In the meantime, gold has been the main driver of the Dow Jones Index.
The price of one ounce of gold has more than tripled in value in the past year, from $1,200 to $7,300.
Gold has also become an important currency in the global economy, especially as the U .
S. prepares to take back control of a chunk of the world’s oil market.
The U.K. and other major nations have been trading with one another in a way that’s seen some of the most dramatic volatility in the market in recent years.
Last year, the dollar strengthened against gold amid worries that a global slowdown in the oil market would hurt demand for the precious metals.
The currency is also trading at a discount to other currencies around the world.