Gold futures tumbled on Thursday as the shock of Donald Trump‘s upset victory has subsided. Despite claims of doom and gloom by the financial experts, the markets are booming, and this is impacting the yellow metal, which had surged on the previous trading day.
December gold futures slipped $6.20, or 0.49%, to $1,267.30 per ounce at 17:12 GMT on Thursday. This comes one day after gold soared as high as 5% before settling down 0.1%.
Silver has been able to maintain its rally. December silver futures climbed $0.36, or 2.00%, to $18.74 an ounce. Silver also started off Wednesday’s trading session jumping as high as 1.20% before ending the day just a little more than 1% higher.
Traders are ostensibly still weighing the effects of
In any event, these are all good news for gold and silver in the long run.
Meanwhile, in the
According to the CME Group FedWatch tool, there is a 76% chance of a December rate hike.
Gold is sensitive to a
If you have any questions and comments on the commodities today, use the form below to reply.