11th February 2017

 Gold recouped most of Thursday’s losses to close only slightly lower on the day, but we suspect that the complex was prevented from pushing higher on account of the fact that the dollar was quite strong for a second day running. This time, the US currency pushed up on perceptions that President Donald Trump is moving more towards more conventional policy stances that successive US administrations have embraced, much to the relief of investors. In this regard, Trump’s meeting with Japan’s Prime Minister Abe went very well, with the US President publicly pledging the US’s commitment to Japan’s security and that of the region’s. Earlier, it was also reported that President Trump and Chinese Premier Xi spoke on Thursday night whereby the US president acknowledged that the US would adhere to its long-standing “one China” policy, thus putting to rest any doubts the markets may have had that Trump was toying with the idea of an abrupt policy shift. 

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