Will The Trump Trade unwinding mean financial uncertainty and demand for gold?

''Donald Trump's victory sparked a rally that sent the Dow Jones Industrial Average to its most impressive run from election to inauguration in 20 years.

Some of the biggest moves since Mr. Trump's election have already waned. Financial stocks in the S&P 500, which surged 17% between Election Day and the end of 2016, have fallen 0.6% in 2017.

Government bonds, which sold off sharply after Nov. 8, have steadied. The yield on the 10-year Treasury note settled at 2.466% Friday, up from 1.867% on Election Day but down from a peak of 2.6% in mid-December. Bond yields rise as prices fall.

Gold, a haven asset that investors dumped post election, has gained 4.7% in 2017, and the WSJ Dollar Index, which measures the dollar against a basket of 16 currencies, is down 1.5% in 2017 after hitting a 14-year high.

Many investors said the real test for the markets has yet to begin. Some of the business-friendly initiatives Mr. Trump's transition team has talked about, such as fiscal stimulus and tax cuts, may not be passed as quickly as investors anticipate. And even if they are implemented, their effects may not be apparent for some time.''