Trump's Victory Brings Inflation Concerns, Gold Price Falls

BlockBeats News, November 6th - Gold price fell after Republican candidate Trump won the U.S. presidential election. An analyst at SP Angel stated that the surge in the U.S. dollar and Treasury yields following the election results weakened gold's appeal, reflecting the market's concerns about the inflationary policies the Trump administration might implement. Trump had previously discussed plans to reduce immigration, impose widespread tariffs, and cut taxes, all of which could potentially drive up inflation. SP Angel added that gold buyers may also be preparing for a more intense election, but a Republican sweep may have led to the liquidation of such positions. (FXStreet)