GOLD IN THE HEADLINES…
Investors Ditch Gold After Trump’s Win (Wall Street Journal 14Nov2016)
“Investors piled into gold when polls showed Donald Trump’s chances for victory were improving. Now that he has won the presidential election, they are selling.”
It is true that the US dollar price for gold increased as much as three percent on foreign markets when early election results here in the US indicated a substantial improvement in President Elect Trump’s odds. However, at that particular time, it likely heightened – in some people’s eyes – the possibility of a contested election. As the evening wore on, and it became apparent that Mr. Trump would win the election, the uncertainty lessened and prices retreated from those higher levels. By early morning at the opening of the US markets the price of gold was back to where it closed the day before. The entire activity was pretty much a non-event.