Gold slips as dollar surges on Trump win, investors keep eyes on Fed

Quick Summary:

Platinum shed 2 per cent to $979.65 and palladium was down 2.9 per cent to $1,044.75.

US gold futures were down 1.3 per cent to $2,713.60.

Commodities from oil to metals and grains slid on Wednesday as the dollar strengthened.Spot silver fell 2.6 per cent to $31.80 per ounce.

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Category: BusinessFinance

Markets: India

Topics: Inflation hedge Trump victory Palladium Dollar surge Gold price Gold retreat Precious metals Gold investment Silver price US presidential election Interest rates US Federal Reserve Fed rate cuts Gold market Saxo Bank US dollar strength Safe haven assets Bullion prices Commodity strategy Platinum Gold outlook

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 18:35:51 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 421 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 29 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23447585

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