Guru Warns Gold Price Will Continue Falling Reasons For Investors To Move Money Into Stock Market, Bitcoin by InfoQuest

InfoQuest – Gold prices are still falling today. It hit its lowest level in almost two months, which was affected by the strengthening of the dollar. and investor risk After the election victory of Mr. Donald Trump, president of the United States

Gold prices have fallen in six of the seven trading days since Trump won. After hitting highs several times this year

Maximilian Layton, global head of commodity research at Citigroup, said investors are buying stocks and bitcoin. while they were selling gold Amidst speculation that Mr. Trump won and that the Republican Party is likely to have a majority in both the US Senate and the House of Representatives. It would allow Mr. Trump to push for deregulation and tax cuts.

Mr. Layton said that the decline in the gold and silver markets is likely to continue for several more weeks. Unlike the high rise of the US stock market. Meanwhile, Bitcoin soared to a high above $93,000 yesterday.

Commonwealth analyst Vivek Thar said gold prices were also affected by the dollar index hitting a one-year high, which would reduce the attractiveness of gold. This makes gold contracts more expensive for holders of other currencies.

“The rise in the dollar index is a reflection that the market has adjusted to Trump’s inflationary policies. This includes reducing tax rates. and establishing taxes on imported products,” said Mr. Thar.

Nikki Shields, chief analyst at MKS Pamp, said that gold and silver will continue to decline. Until the honeymoon period of the stock market’s reaction to Mr Trump’s victory is over.

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