Gold's decline, trading below $2,670, is driven by rising U.S. bond yields and economic optimism tied to Trump’s potential fiscal policies that favor the dollar.
High U.S. bond yields create a challenging environment for gold prices, as they attract investment away from non-yielding assets, indicating expectations of strong economic growth.
Trump's policies are anticipated to enhance U.S. economic growth, leading to increased government spending and tax reforms, which boost investor confidence in U.S. assets over gold.
Investors are looking for cues from upcoming U.S. inflation reports and Federal Reserve communications to gauge future interest rate changes and gold's potential recovery.
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