Categories: Precious Metals
Topics: General Precious Metals

Investors Ditch Gold After Trump’s Win

Investors piled into gold when polls showed Donald Trump’s chances for victory were improving. Now that he has won the presidential election, they are selling.

The turnabout reflects how rapidly markets are reassessing what Mr. Trump’s presidency could mean for U.S. economic growth, inflation and interest rates.

Investor optimism that Mr. Trump’s policies could boost the economy dragged down gold prices 8.5% from their six-week high reached on Election Day. Gold prices on Friday suffered their biggest one-day loss in nearly three years, closing down 3.3% at $1,224.30 a troy ounce.