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Gold prices fall as Trump victory raises inflation concerns
2024-11-06 13:23
Odaily News Gold prices fell after Republican candidate Donald Trump won the U.S. presidential election. SP Angel analysts said that the surge in the dollar and U.S. bonds due to the election results has weakened the appeal of gold, reflecting market concerns about the inflationary policies that the Trump administration may introduce. Trump has previously talked about plans to reduce immigration, impose tariffs and cut taxes on a wide range of issues, all of which could push up inflation. SP Angel added that gold buyers may also be preparing for a more intense election, but the Republican sweep may have led to a sell-off of such positions. (Jinshi)