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Gold Holds Near One-Month Low as Dollar Rallies After Trump Win
Gold held near a one-month low after tumbling on Monday as Donald Trump’s presidential win boosted the dollar further. Bullion was steady after sliding 2.5% in the previous session. A gauge of the dollar rose to its highest level in a year, with markets expecting more gains linked to Trump’s trade tariffs and solid US economic growth. A stronger greenback makes commodities priced in the currency more expensive for most buyers. The precious metal has declined more than 4% since last week’s election, as hedge funds unwound bullish wagers and exchange-traded fund flows turned less supportive amid a widespread ... (full story)
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- Posted: Nov 11, 2024 8:29pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 258
