Gold prices have plunged following Donald Trump’s win in the 2024 presidential election, which has driven both the dollar and Treasury yields higher. Treasury yields surged on expectations that a second Trump administration may introduce policies, like tariffs, likely to spur inflation, potentially prompting the Fed to slow its rate-cutting pace. The Republicans have also secured a majority in the Senate and are on course to win the House of Representatives, suggesting a possible Republican sweep in 2024. This scenario would simplify Trump’s ability to pass major policy changes, many of which could be inflationary, ... (full story)