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Gold Range Bound as Investors Await Trump Speech

Gold Range Bound as Investors Await Trump Speech

28 February 2017

Spot gold is trading in a narrow range near a three-month high in Asia on Tuesday with investors awaiting U.S. President Donald Trump's speech to Congress later in the global day. Gold prices could come under pressure if Trump announces fiscal stimulus measures and spending plans on infrastructure. Investors have largely discounted chances of a rate increase by the Fed next moth. Physical gold demand in China and India remains weak. Gold is trading $0.62 higher at $1,253.21/oz.