Gold hits 3-week-low after Trump’s win

Gold prices fell to a three-week low on Thursday, pressured by a stronger dollar following Donald Trump’s victory in the US presidential election, as investors awaited the Federal Reserve’s decision on interest rates.

Spot gold dropped 0.1 percent to USD 2,656.34 an ounce, reaching its lowest level since mid-October, according to Bloomberg.

This decline follows gold's peak last week at USD 2,790.15, marking a loss of over USD 130.

US gold futures also dipped, down 0.5 percent to USD 2,663.60. Other precious metals saw declines as well, with silver down 0.4 percent at USD 31.03 an ounce, platinum falling 0.3 percent to USD 983.73, and palladium dropping 0.7 percent to USD 1,028.25, extending a two-day retreat across metals.