Washington DC November 6 2024: Gold prices slid more than 3% to a three-week low on Wednesday as investors piled into the U.S. dollar after Republican Donald Trump was elected U.S. president.
Market participants were also looking ahead to the Federal Reserve’s interest rate decision on Thursday for further clues on the bank’s easing cycle that had helped gold’s stunning rally to successive record highs this year.
Spot gold slipped 2.9% to $2,662.99 per ounce, as of 10:10 a.m. ET (1510 GMT), after hitting a three-week low of $2,652.19. The metal was on track to post its biggest daily loss in five months.
