What’s going on? Part of the decrease has corresponded with the enhancing of the U.S. dollar versus other significant currencies.
By STAN CHOE, Associated Press
NEW YORK (AP) — After ripping greater for much of this year, the cost of gold has unexpectedly endedupbeing not so golden because Donald Trump’s success in the governmental election.
Gold fell more than 4% in the 4 days giventhat Election Day, when the broad U.S. stock market climbedup almost 4%. That’s even however financiers are anticipating a Trump White House to drive tax rates lower and tariffs greater. Such a mix might push the U.S. federalgovernment’s financialobligation and inflation greater, which are both things that can assistance gold’s cost.
That’s left gold at $2,618 per ounce, as of late Monday, down from a record of approximately $2,800 set late last month. It likewise implies gold has lost some radiance as the finest carryingout financialinvestments of the year. T