Trump victory drives gold to near 2-month lows as investors pile into equities, cryptocurrencies
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Gold prices have dropped to near two-month lows as the dollar strengthens after Donald Trump's election victory. This has halted the bullion's rally, which had been reaching record highs over the past year.
November 14, 2024 | 6:15 am
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AAAU, a gold-backed ETF, is likely to see a short-term decline in value as gold prices fall to near two-month lows due to a stronger dollar following Trump's election victory.
AAAU is directly impacted by gold prices as it is a gold-backed ETF. The decline in gold prices due to a stronger dollar and investor shift to equities and cryptocurrencies suggests a short-term negative impact on AAAU.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80