Gold has extended its slide from its October 31 high of $2,789, now trading around $2,561—a nearly 8% decline. This drop comes amid sweeping U.S. election results favoring Trump's pro-growth agenda, shifting investor sentiment away from gold as a risk hedge.
U.S. Treasury yields are climbing, with ten-year and two-year yields at 4.46% and 4.35%, respectively, drawing investors toward income-generating bonds and pressuring gold further.
While Bitcoin soars to ATH this week, gold remains under pressure as liquidity flows increasingly shift toward digital assets, exacerbating its recent downturn.
The heightened allure of Bitcoin, fueled by record-breaking gains and the fear of missing out, is drawing speculative interest away from traditional assets like gold, impacting its value significantly.
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