💨 Abstract

Gold prices decreased on Friday and are set for their largest weekly drop in over five months due to the market digesting Donald Trump's election victory and its potential impact on U.S. interest rates. The Federal Reserve indicated a cautious approach to further cuts, causing uncertainty and a pullback in gold. Higher interest rates reduce the appeal of non-yielding bullion. Gold demand in India faltered this week, but saw some buying in Japan and Singapore.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖