Home News Positive Momentum Expected to Continue for Gold Prices

Positive Momentum Expected to Continue for Gold Prices

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Events around the world, including an uptick in the economy, are boosting gold prices. Last week, the gold market saw gains Monday through Wednesday. They faltered a bit on Thursday and Friday but began to recover before the market closed, on Friday, Feb. 10, 2017.

Cues from the United States

Even though the world is still watching the United States and the actions of Donald Trump, the economy seems to be on the upswing. Gold prices are settling in nicely right now because of the improving economy. Even the strengthening of the U.S. dollar doesn’t seem to have too big of an impact on the price of gold futures.

The faltering last week seems to have been influenced by the United States. It came shortly after equity markets rejoiced because of the news that President Donald Trump met with airline executives. This meeting came with a comment that his plan to lower business taxes was coming along ahead of schedule.

News from Europe

The recent European elections and political turmoil from across the globe has led many investors to have a safe haven mentality. This has caused an increase in investors turning to gold as an asset to hold on to in an effort to have some financial stability, no matter what happens in the political arena.

Predictions Look Positive

Gold futures are expected to continue to rise for the next few months. It doesn’t seem as though the political upheaval is going to stop the rally, but small dips for a few days at a time might occur. Investors who are thinking of jumping into gold trading should think about getting in right now before the price gets too much higher.

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