Trump makes a strong comeback as spot gold drops below $2650.
On November 7th, spot gold fell below $2650 per ounce for the first time since October 15th, down 0.34% intraday. As of the time of writing, Shanghai gold was priced at 611.62 yuan per gram, down over 2% intraday, while Shanghai silver was at 7666 yuan per kilogram, down over 3%. Concerns about inflation due to Trump's victory led to the decline in gold prices. An analyst at SP Angel stated that the surge in the US dollar and US bonds following the election results weakened the appeal of gold, reflecting market concerns about potential inflationary policies under the Trump administration. Trump had previously mentioned
Express News | In 2025, lithium prices may fluctuate and seek bottoming out, while the bottom of the rare earth boom may have been confirmed.
Trump sparks a rally in the US dollar! US stocks and bitcoin hit new highs, with the Dow rising 1500 points, small cap stocks surging, while US bonds and metals plummet.
Dow rises to the best level in two years, small cap index rises nearly 6%, banking stocks rise over 10%, oil, steel, and crypto stocks surge, European and American solar stocks all collapse, Trump media technology rises by almost 35% before closing up by about 6%, Tesla rises by nearly 15% to a two-year high, Qualcomm rises by 10% after the bell. Chinese concept stocks narrow their declines, NIO Inc and Zeekr drop over 5%. 10-year US Treasury yield rises the most by 20 basis points nearing 4.48%, reaching a four-month high along with a 1.7% rise breaking 105 in the USD index, Bitcoin rises by 9% nearing $0.076 million, offshore RMB drops by a thousand points to below 7.20, a three-month low, Euro and Yen once fell by 2%. Gold drops over 3%, London copper drops over 4%.
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