Gold feels the heat of the President elect

Yesterday afternoon gold came under further pressure, following a series of updates here prior to that, noting the dynamics potentially behind the fall. Well, gold dropped back close to $2,615 per ounce just after the European close. It later closed in the US at $2,625.01. It was trading around that closing level, when the comments from Trump dealt it another blow. Gold hit a new low on the week at $2,605.34 following his remarks. It has bounced from there now, but it remains to be seen, if it can truly make a more dynamic recovery ahead of the month-end. The comments made about the metal here yesterday have little reason to change just yet this morning. Gold is currently trading at $2,620.40