Commodities
Gold Near Seven-Week Low as Dollar Extends Gains After Trump Win
- A gauge of the US currency climbs to strongest level in a year
- The precious metal has fallen about 5% since US election
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Gold slipped to its lowest level in more than seven weeks as the dollar continued to strengthen following Donald Trump’s election victory.
Bullion fell as much as 1.1% — after sliding 2.5% in the previous session — as a gauge of the dollar rose to its highest level in a year. The gains, which make commodities priced in the greenback more expensive for most buyers, are linked to Trump’s pledges to cut taxes and impose trade tariffs.