Gold (XAU/USD) tumbles to the $2,660s on Wednesday due to the US Dollar (USD) strengthening after Republican nominee Donald Trump was named the winner of the US presidential election.
Trump won with 277 electoral college votes over Vice President Kamala Harris' 224, according to the Associated Press. USD is gaining due to the market view that Trump's economic agenda and tariffs will strengthen the US Dollar. This, in turn, is negative for Gold since it is mainly priced and traded in USD.
Gold is also losing ground due to capital rotating out of Gold and other safe-havens into riskier assets such as Bitcoin (BTC) and equities.
Trump's claims that he can end the conflicts in the Middle East and Ukraine, though seemingly exaggerated ("I will have that war (Ukraine-Russia) settled in one day – 24hrs," Trump once said), could also be reducing safe-haven flows into Gold.
Source: FXStreet
Gold prices weakened in early December, dragged down by investor caution ahead of the Federal Reserve's looming interest rate decision. Amid speculation that the Fed was ready to cut rates again this ...
Gold surged past $4,220 an ounce on Friday (November 28th) to a one-month high and is on track for a fourth straight monthly gain as markets price in a higher probability of a Fed rate cut in December...
Spot gold prices rose 1% to a two-week high on Friday (November 28th), as expectations that the Federal Reserve will cut interest rates next month boosted demand for the non-yielding asset, while silv...
Gold (XAU/USD) sticks to intraday gains near a two-week top heading into the European session on Friday, with bulls awaiting a sustained move beyond the $4,200 mark before placing fresh bets. The incr...
Gold prices have been stable but remain on track to rise for the fourth consecutive month. In Friday morning trading in Asia, gold bullion was trading around $4,163 per ounce, having risen more than 2...
Fundamentally, Brent crude oil is trending higher today, hovering around USD 63 per barrel, continuing its rebound from its lows in recent weeks. The main catalyst was the OPEC+ meeting, which decided to maintain current production levels until at...
Gold prices weakened in early December, dragged down by investor caution ahead of the Federal Reserve's looming interest rate decision. Amid speculation that the Fed was ready to cut rates again this month, market participants opted to hold back,...
Asian stock markets fluctuated at the start of the week, following the modest gains in US stocks last Friday. Investors are now turning their attention to a series of key economic data ahead of the Federal Reserve's expected interest rate cut...
Trading on the Chicago Mercantile Exchange (CME) was halted on Friday (November 28th) following a cooling issue at one of its data centers.
"Due to...
Conflicting signals from the Federal Reserve on the timing and magnitude of U.S. interest rate cuts have accelerated hedging flows into swaptions...
European stocks ended Friday in positive territory as investors digested the end of a choppy month.
The pan-European Stoxx 600 closed the session...
Both the STOXX 50 and the STOXX 600 hovered around the flatline on the final trading day of a volatile November, as the recent rally in global...