Gold Posts Worst Weekly Loss Since 2021
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Earlier this year, gold prices experienced a significant rally, but they have sharply declined since Donald Trump won the presidential election.
In the four days after Election Day, gold prices fell by more than 4%, while the US stock market climbed nearly 4%.
This downturn occurred even though Trump’s proposed policies, including tax cuts and increased tariffs, were expected to drive up US debt and inflation—factors that traditionally support higher gold prices.
Key levels to watch are $2,497 support and $2,800 resistance.
Data: eToro, FactSet, Morningstar, S&P Capital IQ, ProRealTime, MarketScreener, StockInvest