Gold Price News: Significant drop in the gold price to USD 2,655

The gold price fell to as low as USD 2,650 during the course of the trading day, which represents a significant decline compared to yesterday. This decline is mainly influenced by the outcome of the US elections, in which Donald Trump won the election. Trump's unexpected victory has led to uncertainty, as many investors associate his previous tenure with high volatility and uncertainty, particularly in trade and foreign policy.

Trump's election, who presented himself as a “change candidate” despite his prior presidential run, was fueled by his promise to improve economic conditions and pursue stricter immigration policies. His success in this election – supported by a historic number of votes – demonstrates a continued political divide in the US and could shape global economic policy.

Geopolitical tensions are also contributing to the current drop in gold prices. Reports of North Korean soldiers fighting alongside Russian troops in Ukraine, as well as Russia's ongoing military actions in Ukraine, are increasing global uncertainty. North Korea and Russia have also ratified a military assistance pact that deepens security cooperation between the two countries. These developments could lead to further geopolitical tensions and increased uncertainty in world markets.

Trump's return to the White House and the Republican majority in both chambers could lead to significant changes in US and global politics. The Republican agenda could mean a continuation of “America First” policies, which could potentially affect multilateral agreements and cooperation. These political changes could cause investors to adjust their strategies, which could lead to fluctuations in the gold price.

In light of the current political and geopolitical developments, markets are expected to remain volatile. The gold price could continue to fluctuate in response to further news and developments in the US and worldwide. Investors should monitor the situation closely, as ongoing uncertainties will continue to influence the gold market.

This comprehensive analysis provides a detailed overview of the factors influencing the gold market today. It shows how the US elections and geopolitical tensions are directly correlated with movements in the gold price.