LONDON, 26 April 2017 – Gold's current price action is reflecting the US Dollar's fortunes more closely than ever says leading US financial news-site MarketWatch, citing analysis from BullionVault.
With President Trump's finance minister Mnuchin today outlining the new administration's tax and spending plans, "Gold has rarely been more about the Dollar [than it has] since Trump won in November," MarketWatch quotes Adrian Ash, head of research at BullionVault in London.
"Trump's political stance backs a strong Dollar, as would his tax reforms...But like his promise to build the wall, they're now bumping into the debt ceiling--and that risks wider disappointment with the White House, which is typically a bullish backdrop for gold."
You can read MarketWatch's full report syndicated to the Morningstar investment rating service here:
UPDATE: Gold falls for a 3rd straight session as the dollar firms on tax-plan unveiling
