Shocking! Trump's victory triggered a 175-point surge in the US dollar and a nearly $85 drop in gold prices. How to trade gold?
On Wednesday, after Trump was elected President of usa, investors rushed to buy dollars, causing the gold price to plunge to a three-week low. Stone X analyst Rhona Connell said: "Originally, the market expected election results to be controversial, but Trump's clear victory eliminated this uncertainty, reducing risks. Trump's election resulted in a strong rise in the dollar, and the combination of the two caused the gold price to fall."
GLD ETF Falls 3.0%
Deplay Cash And Reduce Hedges, Short Term Opportunities At Hand, Prepare For Long Term Opportunties
SPDR Gold ETF Options Spot-On: On November 6th, 422.66K Contracts Were Traded, With 3.01 Million Open Interest
On November 6th ET, $SPDR Gold ETF(GLD.US)$ had active options trading, with a total trading volume of 422.66K options for the day, of which put options accounted for 33.59% of the total transactions,
Update: Gold Trades Lower as the Dollar and Yields Surge Following Donald Trump's U.S. Election Win
Can't stop it! The price of gold fell nearly 3% intraday, can the Federal Reserve save it?
Analysts say that a major issue facing the gold market is the comparison between the current Trump and the one who won the election eight years ago, what are the differences.