The first year of any administration is a time of flux and increased risks — and some would argue that Donald Trump adds more than the usual frisson markets can expect from a US presidential handover.
The spot price of gold has gained almost 5% this year, trading around US$1,204 an ounce early on Friday. Bulls can take a look at history for reassurance: since the precious metal has jumped on average 15% in years marking the inauguration of a new president since Gerald Ford was sworn in in 1974, Bloomberg points out. For five in seven of those years, gold bugs rang in the new year in positive territory; the S&P 500 stock index fell almost 1% on average each year over the same period, declining in four out of the seven, the financial data company said.