Gold Price slide: Trump threat to shutdown the Governement - Movingtrend
Reuters - Friday August 25, 2017
Due to Political chaos in United States and terrorists attack in Spain the Gold prices moved into the low $1,290 (PKR. 135933.75) an ounce. Chief market analyst at Think Markets, Naeem Aslam told Reuters, that the Trump's threat to shutdown the government if funds are not given to build a wall on the Mexican border.
Naeem Aslam told to Reuter, "This entire situation [with Trump] would continue to help gold in the short and longer term." "The big upward push for the gold price which we are not seeing is because of the possibility of some unexpected hawkish comments by Janet Yellen during her upcoming speech."
The gold price was down by 0.1 percent at $1,288.91(PKR. 135818.89) an ounce after gaining the price 0.4 percent in last session, the low is .03 percent to $1,294.30 (PKR. $1,294.30) per ounce.
Richard Xu manager of the HuaAn Gold said, "The market is pricing in the Federal Reserve’s actions at the Jackson Hole meeting and people are expecting some kind of tightening going on in that space."