Important points:
- Gold falls for 5th straight day
- Prices down 9% from record
- Strong dollar and high stock prices weigh on gold
With all the volatility in stocks, cryptocurrencies, and foreign exchange, who needs a risk-averse asset? Gold fell 8% in November.
- gold
XAUUSD I'm having a tough timeThe decline intensified after Donald Trump won the presidential election, dropping more than 8% in November. Early Thursday morning, the precious metal's price was around $2,550 a troy ounce, down for the fifth day in a row and down 9% from its all-time high of $2,790 hit on Oct. 30. Apparently, now is not the time to take risks. – Disgust. Rather, it is a complete risk mode for investors. - donald trump offensive The agenda calls for significant economic growth, tax cuts and tariff increases. And with Congress now largely controlled by Republicans, the door is wide open for President Trump's stimulus package. Against this backdrop, stock prices, indexes, and virtual currencies are thriving, hitting record highs literally every day. Gold, on the other hand, is abandoned. Why isn't gold rising in line with its peers?
- gold is the main asset It is a contrarian group that traders visit when they need to protect themselves from risk, inflation, and uncertainty. Shiny metals are considered safe-haven assets and typically become more attractive when stocks and currencies decline. However, the US dollar is currently trading at a one-year high against the euro, and the prospect of further growth is putting pressure on gold prices.
