WASHINGTON (dpa-AFX) - Gold prices edged higher on Thursday as the dollar shed some ground amid bets there will be a few interest rate cuts by the Federal Reserve early next year.
Gold also saw some safe-haven buying due to uncertainty about Trump's policies on inflation and growth, and the likely impact on the Fed's easing cycle
Trump's 'America first' policies include a pledge to impose tariffs on imports and clamp down on immigration. He has also promised tax cuts, deregulation, and a reduction in bureaucracy.
The dollar index dropped to a low of 108.03 before edging up to 108.13, still down more than 0.1% from previous close.
Gold futures for December closed up $18.80 or about 0.72% at $2,638.80 an ounce.
Silver futures for December settled higher by $0.073 or about 0.25% at $30.047 an ounce, while Copper futures for December climbed to $4.0720 per pound, gaining $0.0255 or 0.56%.
The Federal Reserve Chair Jerome Powell signaled fewer rates cut next year. Following this, traders are pricing in just about 35 basis points worth of easing next year.
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