Gold Rallies, then Falls Back to Earth, after Trump Win

By Jeff Yoders on NOVEMBER 9, 2016

Last night, Republican nominee and developer Donald Trump was elected the 45th President of the United States.

Gold jumped nearly 5% to $1,337.40 an ounce early Wednesday to its highest in six weeks as investors snapped up safe havens. This was gold’s biggest single-day gain since June 24 when it rose as much as 8% when Britain decided to leave the European Union. It closed up 4.8% that day. However, prices almost immediately began to retreat this morning. It’s back below to $1,281.50/ounce as of this writing (10:45 AM Central), near its closing yesterday of $1,275.80/ounce.

A Trump win, which many believe leads to economic and global uncertainty, may also push theFederal Reserve to hold off from raising interest rates next month.