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

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 18:35:51 (2 weeks 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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