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Gold price scales $1,300, highest since Trump election Editor:goldpro Visit: Release time: 2017-09-14 15:21:03

On Friday, the price of gold was bolstered by a weaker US dollar and turmoil on financial markets lifting the metal to its highest level since the election of Donald Trump as US president in November.

Gold futures in New York for delivery in December, the most active contract, touched a high of $1,306.90, in massive volumes of nearly 26m ounces by noon, before paring some of those gains.

The gold price received a boost last week on escalating tensions

between US and North Korea, but the safe-haven buying related to the stand-off with the dictatorship soon faded.

While North Korean worries come and go it increasingly looks like Donald Trump will be a consistent source of support given the unpredictability of his presidency On Friday the attention of gold bulls turned to US domestic matters including minutes from the Federal Reserve, showing little urgency about the pace of interest rate hikes in the US.


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