Gold losses its shine as Trump trade fully materializes.

The US Dollar Index (DXY) rose over 1.8% to a peak of 105.32 on Wednesday as Donald Trump has become 47th President of USA. US stock futures were also up on the news, with the S&P 500 futures contract up 2.2% at 5,909 in pre-market trading and the Dow 30 futures contract up over 1.3% to 42,770, as markets rejoiced in anticipation of Trump’s likely lower tax agenda. Likewise, Bitcoin rose to a new all-time high of $75,407 due to the looser regulatory environment for crypto promised by Trump. 

Gold is currently trading at $2700 levels & its almost down 90$ from life high levels. Silver is also down roughly 3% as Dollar is gaining strength. Technically, weekly Gravestone Doji is doing its work & the next supports are coming at 2691$ Levels. If market is further breaking down that support then one can expect more weakness in Bullion Markets. 

Recent News

DAX sustains on daily lower levels.

November 05, 2024

Market Insights

GER40/DAX Analysis

October 11, 2024

Market Insights

Gold Continues its Dream Run amid Geopol...

October 21, 2024

Market Insights

DAX bounce back from daily support level...

November 04, 2024

Market Insights

AUDUSD made a Doji in 4 Hr time frame, w...

October 24, 2024

Market Insights

Dow Jones Analysis

October 14, 2024

Market Insights

Kartik Sharma

ICT Analyst

Maddy

Cross-Asset Analyst & Trainer

Sandy Matthews

Trading Expert

Sam Thomas

Global Market Analyst

Bot Window | Bot Window