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Gold extends losses to $1,212.00 a troy ounce


Gold extended its losses for the fourth straight trading session, thus dropping to five-month lows, following Trump's election as the next U.S. President.

Gold lower to $1,212.00

The precious metal's December delivery, on the New York Mercantile Exchange on the Comex division, declined to $1,212.00 a troy ounce.

Amid the latest optimism that Trump's administration could spike inflation and economic growth, due to an increase in tax cuts and fiscal spending, the commodity fell more than 3% last Friday.

The investors and the speculators are currently predicting that the rate hike has a chance of 81.1% to take place.

Moreover, elsewhere, silver futures traded at $17.34 a troy ounce, declining 0.21%, whereas copper futures escalated 2.23% to $2.565 a pound.

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Source: https://www.argusfx.com/en/research-education/market-analysis/news/gold-extends-losses-to-1.212.00-a-troy-ounce
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