Gold is up 0.25% in spot trading as it continues to hold above $2,700 per ounce, indicating its status as a safe haven amidst market uncertainty.
The market is particularly focused on Trump’s inauguration speech, as it could influence concerns regarding inflation and the upcoming direction of tax and deficit policies.
Concerns about trade policy with China and the European Union remain high, with Trump’s aggressive approach potentially reigniting trade wars and adding to global economic uncertainty.
Despite rising Treasury yields, gold's appeal is bolstered by uncertainty surrounding public finances and the expectation that Trump’s speech will provide clarity on economic direction.
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