(Kitco News) – Gold and silver prices are strongly lower and hit three-week lows in early U.S. trading, following a decisive win by Republican U.S. presidential candidate Donald Trump. The presidential race was not as close as expected and the process won’t be in dispute. So far, no civil unrest has occurred because of the election results.
This is prompting the unwinding of safe-haven long-gold trades. A stronger greenback and higher Treasury yields today are also bearish for gold. December gold was last down $65.60 at $2,684.10 and December silver was down $1.43 at $31.345.
Asian and European stock indexes were mixed overnight. U.S. stock indexes are pointed to sharply higher openings when the New York day session begins, with the S&P 500 hitting a record high. The U.S. stock market has rallied strongly on the decisive victory by Republican U.S. presidential candidate Trump.
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