The price of goldrose, and the dollar dipped, today as traders awaited a Wednesday press conference by President-elect Donald Trump.
Gold settled at $1187.40, up 0.20% on Tuesday. That's an increase of $2.40.
The dollar/euro pairing was down by 0.12%, settling at 1.0559. The pound/dollar pairing was up 0.04%, settling at 1.2165. The dollar/yen pairing settled at 115.69, down 0.27%.
President-elect Trump has set a press conference for Wednesday. Investors are concerned that Trump may roil world markets by taking a tough stance on China, trade policy, and Mexico.
Trump announced the appointment of his son-in-law Jared Kushner as a senior White House aide, and Kushner, husband of Ivanka Trump, is expected to sit on the president's Executive Committee, which will also include the Chief of Staff Reince Prebius, counselors Kellyanne Conway, and Steve Bannon. All of them support tough policies on immigration and China, as well a trillion dollar spending plan for domestic infrastructure.
During confirmation hearings at the Senate on Tuesday, Gen. John Kelly, for Secretary of Homeland Security, the former military leader told Sen. John McCain, in response to questioning, that Trump's plan to build a wall on the southern border of the U.S. to secure the country from illegal aliens and illegal drugs would be part of a "layered approach" to homeland defense.
The general said drones and aircraft and men on the ground would also be used in addition to the wall, and foreign policy agreements with countries as far south as Peru would be needed to dampen the flow of illegal emigres and cocaine, heroin, and other illegal narcotics.
Boston Merchant Financial Ltd is licensed by The Federal Financial Markets Service Licence Number: 1220
BMFN EAD regulated and authorised by the Financial Supervision Commission (FSC) Register. Number: RG-03-220
BMFN Pty Ltd is licensed and regulated by Australian Securities & Investment Commission (ASIC) ABN 14 145 724 509, AFSL Number 379035
BMFN PTY Ltd is registered as a Financial Service Provider and listed in the Financial Service Providers Register (FSPR), FSP328066
Risk Warning: CFDs are margined products; it is possible to lose more than your initial margin deposit or credit allocation as well as any variation margin that you may be required to deposit from time to time. Therefore you should only speculate with money that you can afford to lose. CFD trading may not be suitable for all customers; therefore please ensure that you fully understand the risks involved and seek independent advice if necessary and prior to entering into such transactions. When trading CFDs with Boston Merchant Financial you are merely trading on the outcome of a financial instrument and therefore do not take delivery of any underlying instrument, nor are you entitled to any dividends payable or any other benefits related to the same. Please be advised, the services and products described on www.bmfn.com and offered by Boston Merchant Financial, Ltd. (BMFN) are not being offered within Canada, the United States or Belgium and not being offered to U.S., Canadian and/or Belgium residents or citizens, as defined under applicable law. BMFN and its products and services offered on the site www.bmfn.com are NOT registered or regulated by any U.S. or Canadian regulator and not regulated by FINRA, SEC, NFA or CFTC.
BMFN reserves the right to retroactively charge storage fees for positions held for extended period of time as stipulated by the market liquidity provider.