Gold Bounces Back From 5 1/2 Month Low After Trump’s Win
Gold rebounded on Monday from 5-1/2 month lows as the dollar shed some of the hefty gains made the previous week on bets that U.S. president-elect Donald Trump’s plans for fiscal stimulus would prove inflationary.
Those assumptions have driven Treasury yields higher, denting interest in non-yielding bullion while boosting the U.S. currency. But as the dollar took a breather on Monday, gold clawed back some lost ground.
Lower prices are also tempting some consumers of physical gold back to the market, dealers said.
Spot gold was up 0.4 percent at $1,213.10 an ounce at 1500 GMT, while U.S. gold futures for December delivery were up $4.00 an ounce at $1,212.70.