Gold loves the Trump jitters

Gold is holding near a two-month high as investor nervousness following Donald Trump’s inauguration weakens the dollar and spurs haven demand.

Bullion has advanced in all but two trading sessions so far this year. The Bloomberg Dollar Spot Index fell to near the lowest in a month after Trump began his US presidency by saying he’ll focus on American interests, spurring concerns of rising trade protectionism.

Gold investors have focused on two main views since Trump’s election: he’s a wild card upending policy on everything from trade to alliances; he’ll boost US growth, equities and the dollar.

The administration’s opening days have been marked by protests and petty disputes. “In this unforeseeable environment, people want to buy gold,” said Bob Takai, CEO of Sumitomo Corporation Global Research Company.