17:51 - 6.11.2024

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November 6, Fineko/abc.az. Gold is getting cheaper after news began to arrive about Donald Trump's victory in the U.S. presidential election.

ABC.AZ informs that at the world markets, an ounce of gold fell more than by 1.3%, to $2,707 (data as of 11:45 on Baku time).

In recent weeks, some investors have wondered about the possibility of Trump’s victory. Trump's economic growth-oriented agenda not only supports the US dollar, but also puts some pressure on gold. Today, the US dollar has risen in price in front of the main world currencies, and oil has fallen in price.

However, concerns about the high trade tariffs promised by Trump may also support a scenario in which investors turn to safe assets such as gold in the event of Trump’s victory.