Gold is up ahead of Trump's inauguration and May's Brexit speech

 
Courtney Goldsmith
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Gold is up as investors wait out more political uncertainty
Gold is up as investors wait out more political uncertainty (Source: Getty)

Gold prices were up 0.48 per cent in morning trading, rising above $1,200 per ounce as political uncertainty looms.

Ahead of Donald Trump's inauguration this week, gold was trading at $1,201.90 per ounce, on course for its sixth straight session of gains, while the US dollar weakened, analysts at Accendo Markets said.

Read more: Trump's golden flowering: precious metal price rises on policy vacuum fears

Theresa May's Brexit plan, which is set to be announced in a speech tomorrow, is also likely having an effect on the yellow metal.

Read more: Sterling was back below $1.20 this morning

Three-month copper fell 0.23 per cent this morning on the London Metal Exchange to $5,894.50 per tonne before rising slightly.

Copper was down 0.11 per cent at the time of publishing after lifting five per cent over the last week, according to Reuters.

Read more: Aim miner Atalaya brings original Rio Tinto copper plant to full production

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