Gold Falls as Trump’s Decisive Election Win Drives Up US Dollar
Gold fell on a surging dollar as Republican Donald Trump was elected back to the White House after one of the tightest presidential races in years.
Bullion tumbled as much as 1.5% as Trump’s victory rippled through global markets, with Treasury yields jumping and the dollar strengthening the most since 2022. A surge in the currency makes bullion pricier for many buyers.
Trump clinched victory after taking key battleground states, while Republicans also gained control of the Senate. A less clear or contested result might have buoyed gold, whereas the decisive win reduces short-term risk for investors. Analysts still see a bullish impact in the long run, fueled by US inflationary pressures and currency weakness in China in the face of possible trade tariffs.
Source: Bloomberg