Gold futures slip 0.2% to $2,612 a troy ounce. U.S. dollar-denominated commodities like gold have been pressured in the wake of Donald Trump's victory in the U.S. election.
Market expectations for fewer interest-rate cuts and a resurgence in inflationary pressures given Trump's planned tax and tariff laws have started to play against the precious metal, says Capital.com's Daniela Sabin Hathorn. In the short term, investor attitude toward gold has turned bearish, but gold isn't a hard sell just because the market expects fewer rate cuts, Hathorn says in a note.
There is still plenty for investors to be concerned about. Political and military conflict, alongside weakening consumer demand in China and Europe will support gold. Trump's tenure could also cause further frictions in international relations, adding to safe-haven demand, she adds.
Source : Dow Jones Newswires
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