Gold Prices Plunge As Trump Triumphs: What's Next For XAU/USD?

Nov. 06, 2024 12:45 PM ETSPDR® Gold Shares ETF (GLD), IAU, GLDM, SGOL, BAR, IAUM, OUNZ, AAAU, XAUUSD:CUR, IGT:CADBP, GLTR, JJP, GLDI, BGLD, IGLD, GBUG, PHYS8 Comments
Dean Popplewell profile picture
Dean Popplewell
3.14K Followers
(4min)

Summary

  • Gold prices plummet as Trump’s election victory boosts the US dollar and Treasury yields.
  • Market sentiment shifts towards higher interest rates, diminishing gold’s appeal.
  • Technical analysis suggests bearish momentum is building, will safe haven demand return and underpin gold prices?

mathieukor

Gold prices were in free-fall as the US Dollar Index and US Treasury Yields surged following a Donald Trump election victory. The US Dollar Index (DXY, USDOLLAR) and US 10 Yield are both trading at levels

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About GLD ETF

SymbolLast Price% Chg
GLD
245.70-3.04%
Post245.65-0.02%
Created with Highcharts 11.2.0Nov 1Nov 4Nov 5Nov 6240250260
Expense Ratio
0.40%
Div Frequency
-
Div Rate
-
Yield
-
Assets (AUM)
$78.17B
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