November has been terrible for gold...
as it has dropped 8% in value during the month, which are the sharpest losses since 2013. This is due to a strong US economy which reduces demand for safe-haven markets and the expectation of further rate hikes from the Fed in December.Impressive GDP figures in the third quarter, shows that the economy expanded to 3.2%, above the 3.0% forecast. Solid consumer confidence has jumped to 107.1 points in November was also crucial for the recovery in the US. Overall, Donald Trump’s surprise election victory has not had an adverse effect on the economy, suggesting that the US dollar could continue to strengthen against its rivals.
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