Gold is suddenly not so glittery after Trump’s White House victory

AP Business Writer

NEW YORK (AP) — After ripping higher for much of this year, the price of gold has suddenly become not so golden since Donald Trump’s victory in the presidential election. Gold fell more than 4% in the four days after Election Day, while the broad U.S. stock market climbed nearly 4%. That’s even though investors expect a Trump White House to drive tax rates lower and tariffs higher. The dollar’s strength and expectations that interest rates won’t come down as fast as expected are behind the shift that’s left gold at $2,618 per ounce, as of late Monday, down from a record of roughly $2,800.