 "Trump impact? Gold near all-time high, share markets wobble globally")
Amid uncertainty that US President Donald Trump has brought, gold prices rose to a three-month high on Friday.
Reuters has reported that gold prices are headed to a fourth straight week of gains.
People are turning to gold with the idea that it is a safe haven asset amid uncertainties that Trump’s second term has brought to world markets.
Spot gold jumped 0.8 per cent to $2,774.49 per ounce as of 02:55 GMT and has gained more than 2 per cent so far this week, according to the agency.
Meanwhile, markets have been wobbly across the world. India’s 10-year bond yield is at six-week low. It was at 6.7128 per cent as of 10:00 a.m. IST, compared with the previous close of 6.7341 per cent. Earlier in the day, the benchmark yield had dipped to 6.7079 per cent, which was the lowest level since December 11.
Even though there were some gains after Trump’s remarks on Thursday about lowering oil prices and interest rates and taxes in the United States, Indian market fell on Friday. The Nifty 50 fell 0.3 per cent to 23,137.25 points as of 10:19 am local time while the BSE Sensex fell 0.25 per cent to 76,334.03.
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