Gold is starting to regain its luster in the new year, reversing a long string of losses following the U.S. presidential election. The precious metal came under pressure after the election of Donald Trump prompted a rally in the dollar, U.S. stocks, and riskier financial assets. The decision by the Federal Reserve to raise interest rates in December further weighed on gold prices, and central-bank officials indicated they may raise rates another three times in 2017. However, analysts say gold looks ready to stage a comeback as political and economic risks gain renewed attention with the presidential transition. Gold prices rose to a two-month high on Tuesday, trading at their highest level since Nov. 17. On Friday, futures for February delivery closed at $1,204.90 an ounce, up 0.7% for the week in its fourth consecutive week of gains. “The world marketplace is getting a bit anxious,” said Jim Wyckoff, senior analyst at Kitco Metals, in a Wednesday note.
