Gold is getting crushed up on Trump's win however eye the decide for Treasury Secretary

Gold is down $78 immediately to $2666 on the mix of upper Treasure yields and a stronger US greenback following the election. There’s additionally some ingredient of ‘promote the very fact’ and aid that we do not have a contested, unsure consequence.

It is a 2.eight% day by day drop however it’s solely a average setback on this yr’s 29% rally. I haven’t got an opinion on the short-term as momentum trades are prone to lengthen right here however gold merchants will need to regulate Trump’s choice for Treasury Secretary.

A powerful candidate is hedge fund supervisor John Paulson. The New Yorker ran a small merger arb agency earlier than hovering into prominence and billionaire standing by shopping for CDS on mortgage-backed securities within the sub-prime disaster. After that he grew to become an outspoken gold bug, even establishing a gold-specific fund that was finally unsuccessful.

In the end, he was a one-hit-wonder in markets however he wager on Trump early and has been auditioning for a spot in cupboard.

This text was written by Adam Button at www.ubaidahsan.com.



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