The US presidential election votes have triggered a big market movement! The latest results of the US election show a sharp rise in the US dollar and a big drop in gold prices, with gold trading at nearly 0.2 billion US dollars in one minute.
On Wednesday, in the early trading session of the Asian market, as the first batch of results from the USA election were gradually announced, the financial markets experienced intense volatility. The US dollar surged sharply in the short term, while spot gold plummeted, with the gold price just falling below $2740 per ounce. The Mexican peso and Japanese yen both fell in the early trading session of Wednesday in the Asian market.
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Historically, gold has performed poorly after elections. Will it be different this time?
Citigroup believes that gold may face pressure in the short term after the US election, but the relationship between gold and the "Trump trade" is not significant. The structural bull market of gold remains stable, and investors are advised to buy when the gold price falls, expecting the price to reach $3,000 per ounce in the next 6 months.
US media warns of possible riots after the election, gold price surged nearly $13 from its low! Chief analyst's technical analysis of gold.
#USA Elections##Gold Technical Analysis#24K99 News On Tuesday (November 5), during the Asian market's closing, spot gold rose rapidly in the short term, with the price just breaking through $2,737 per ounce, rebounding nearly $13 from the earlier intraday low.
Gold's shocking reaction to the results of the election in the USA!
Deutsche Bank simulated the performance of gold under the Trump and Harris administrations, the results were shocking, and it also inspired the gold bulls.