Barry Stuppler

Gold hit a two-week high on Friday on a weaker dollar and was set to close 2016 about 9 percent higher, snapping three years of declines . . . .

President-elect Donald Trump’s pick for budget chief, Mick Mulvaney, has been an active investor in gold and gold-mining stocks, often seen as a hedge against collapsing currency . . . .

In more ways than one, 2016 was a roller coaster year. One need only look at gold’s performance to confirm this. After rallying more than 30 percent in the first half, the precious metal stalled in the days before the U.S. election, then retreated on a weekly basis, under pressure from a strengthening dollar and tightening monetary policy . . . .

Swiss bank UBS looks for gold to average $1,350 an ounce in 2017, characterizing the metal as down but not out after significant price declines over the last few weeks . . . .

Since the election of Donald Trump, the U.S. Dollar and interest rates have soared. During this same timeframe, financial, pharmaceutical and energy stocks have led the way in the world’s equity markets’ climb higher  . . . .