Gold Prices Face Steepest Monthly Decline in Over a Year Following U.S. Election

Weaker dollar and geopolitical tensions provide short-term support, but post-election sell-off drives November losses.

Gold prices have fallen 3% in November, marking their worst monthly performance since September 2023, driven by a post-election sell-off after Donald Trump's victory.
A rally in the U.S. dollar earlier this month, fueled by expectations of higher tariffs and fiscal spending under the Trump administration, contributed to gold's decline.
Geopolitical tensions, including renewed conflict in Ukraine and concerns over Israel-Hezbollah ceasefire breaches, have bolstered short-term safe-haven demand for gold.
The Federal Reserve's potential cautious approach to future interest rate cuts, influenced by inflationary concerns from Trump's tariff plans, adds uncertainty to gold's outlook.
Other precious metals, including silver, platinum, and palladium, also recorded monthly losses despite slight gains in recent trading sessions.