Gold price falls – London Business News | Londonlovesbusiness.com

Gold has extended its slide from the October 31 high of $2,789, now trading around $2,561—a nearly 8% decline.

This drop comes amid sweeping U.S. election results favoring Trump’s pro-growth agenda, which has shifted investor sentiment away from gold as a risk hedge.

U.S. Treasury yields are also climbing, with ten-year and two-year yields at 4.46% and 4.35%, respectively, drawing investors toward income-generating bonds and pressuring gold further. Gold is likely to face additional downside as it searches for a firmer support level, hinging on a catalyst to regain equilibrium.

While Bitcoin soars to ATH this week, gold remains under pressure as liquidity flows increasingly shift toward digital assets. The heightened allure of Bitcoin, fueled by record-breaking gains and the fear of missing out, is drawing speculative interest away from traditional assets like gold, exacerbating its recent downturn.