Gold prices are retreating significantly, dropping below $2,700 per ounce, which erases all gains made in November as economic shifts take place.
The rise in Treasury yields, with the 10-year note hitting 4.477%, indicates market expectations of returning inflation under Trump's upcoming policies, influencing gold prices.
Market forecasts suggest a decreased chance of interest rate cuts, with the likelihood of a 25-basis point cut in January falling from 69% to 32%.
The Dollar Index's significant rise, reclaiming the 105-point level, highlights the strengthening dollar amidst heightened economic uncertainty due to potential trade policies.
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