Gold Rallies, Then Falls Back to Earth, After Trump Win

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

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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 the  Federal Reserve to hold off from raising interest rates next month.

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