Gold Prices Today: Yellow metal to log worst week in five months after Trump’s win weighs on US Fed rate outlook
Live MintGold Prices Today: The yellow metal dropped on Friday, November 8, but was poised to log its steepest weekly decline in over five months. A stronger US dollar pressured gold prices, and the stock market absorbed the implications of Donald Trump's recent victory in the US elections in 2024 and its potential impact on US Federal Reserve interest rate expectations. Analysts said gold traded weak, dropping by ₹300 to ₹77,150 and by $20 to $2,685, amid strength in the dollar index and the US Federal Reserve's policy announcement aligned with expectations of a 0.25 per cent rate cut. The Fed's outlook and inflation trending toward the targeted two per cent offered no new surprises to support gold prices. Gold and silver prices rebounded from one-month lows following interest rate cuts by the US Federal Reserve and the Bank of England.