Reuters - Video

Edition: US | UK | IN | CN | JP

video Video

Bernanke steps into the spotlight
Bernanke steps into the spotlight - 02:13
The official royal wedding guest list revealed
The official royal wedding guest list revealed - 01:23
Shuttle astronauts arrive at Cape Canaveral
Shuttle astronauts arrive at Cape Canaveral - 01:18
Waiting for Bernanke
Waiting for Bernanke - 01:51
Hospital staff flee border fighting
Hospital staff flee border fighting - 01:10
Thousands at Sai Baba funeral
Thousands at Sai Baba funeral - 01:03
Al Qaeda releases hostage messages
Al Qaeda releases hostage messages - 01:43
Obama calls birth controversy \
Obama calls birth controversy "distracting" - 05:29
Three blasts hit Kirkuk
Three blasts hit Kirkuk - 01:25
Protests intensify in Yemen
Protests intensify in Yemen - 01:24
Border clashes displace thousands
Border clashes displace thousands - 01:50
S&P Credit Rating Warning Helpful - Lister
S&P Credit Rating Warning Helpful - Lister - 00:53

Trump victory taking shine off gold

Monday, November 14, 2016 - 01:58

Amid signs of a more tempered Trump and optimism his policies could spur economic growth gold prices plung in the days following the president-elect’s victory speech.

▲ Hide Transcript

▶ View Transcript

The moment Donald J Trump secured the US Presidential election and a glittering political future…was conversely the moment that gold starting losing its luster… While investors piled into the safe-haven when polls showed Trump's chances for victory were becoming a reality, now that's he's won, they are selling… And part of this is due to promises like this… SOUNDBITE: U.S. PRESIDENT-ELECT, DONALD TRUMP, (ENGLISH) SAYING: "We are going to fix our inner cities and rebuild our highways, bridges, tunnels, airports, schools, hospitals. We're going to rebuild our infrastructure. Which will become, by second to none. And we will put millions of our people to work as we rebuild it." Amid signs of a more tempered Trump and optimism his policies could spur economic growth, gold prices plunged in the days following the president-elect's victory speech. Over the course of the week, the precious metal lost over 5% of its value, eventually closing at just over 1227 dollars on Friday. SOUNDBITE: NAEEM ASLAM, CHIEF MARKET ANALYST AT THINK MARKETS (ENGLISH) , SAYING: "Everyone was expecting now there is a possibility of trade wars and the possibility of another war in the GCC (Gulf coast countries) or how he is going to trade there. But in his acceptance speech he literally said okay that's not going to happen. Going forward I'm going to use more analytical and strategic method and that's how I'm going to run this country. Hence, we're seeing the sell off." The market is also now betting on the Federal Reserve raising interest rates more quickly. Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-interest bearing gold.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

Trump victory taking shine off gold

Monday, November 14, 2016 - 01:58

Featured Videos

London's female wrestling scene boosted by Netflix show 'Glow'

London's female wrestling scene boosted by Netflix show 'Glow'

There has been more interest in female wrestling and a clearer sense of what it involves since hit Netlfix show 'Glow' came out
Chimpanzees can understand rock, paper, scissors

Chimpanzees can understand rock, paper, scissors

Chimpanzees can understand rock, paper, scissors, Japanese primatologists show
Bladerunners - UK lawnmowers in 12-hour endurance race

Bladerunners - UK lawnmowers in 12-hour endurance race

Drivers donned their suits and climbed into their cockpits at the weekend for a 12-hour endurance race with a difference: they weren't driving rallying cars, but lawnmowers
The highs and lows of Macron's first 100 days

The highs and lows of Macron's first 100 days

French President Emmanuel Macron heads into the summer break faced with falling popularity ratings after tough debates in parliament over labour reform and a public ethics law, a standoff with the military and cuts to housing assistance
The vending machine helping fight against HIV

The vending machine helping fight against HIV

An innovative vending machine for HIV tests being piloted in Britain aims to help in the fight to end the epidemic