Gold and silver were hit hard when on the night of 5 November Donald Trump captured not just the US presidency, but his Republicans both legislative houses as well. In early morning European trade today, gold was $2688, down $54 from last Friday’s close, and silver was $31.55, down $1.90.
US equity markets initially rated Trump’s presidency as very bullish, propelling the S&P 500 index to new highs. He is expected to pursue a protectionist, business friendly agenda which also led to a sharp rally in the dollar. The trade-weighted index is next:
