Trump victory drives gold to near 2-month lows as investors pile into equities, cryptocurrencies

Gold prices hit a near two-month low following Trump’s election victory, with spot prices dropping 7% to $2,559.2 per ounce. The decline is attributed to a stronger dollar, postelection risk-on sentiment, and prospects of lower tax and regulations boosting U.S. equities. Despite the slide, market watchers are optimistic about gold’s fundamentals, citing central bank demand, rising debt, and geopolitical tensions as potential drivers for higher prices.

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