The price of an ounce of gold, which provided its investors with a return of 33 percent in the period from January to October of this year, lost 3.4 percent of its value in November.
The price of an ounce of gold, which started this year at $2,062, lost 1.36 percent of its value in the first month of the year and entered an upward trend in the following months due to the increasing geopolitical tension in the world and the process of reducing interest rates by the US Federal Reserve.
The ounce of gold, which reached its all-time high of $2,790 in October, completed its price at $2,743 with an increase in value of 4.15%, thus the price of an ounce of gold rose by 33 percent in the period from January to October.
The victory of Donald Trump in the US presidential elections held in the United States on November 5 brought a lot of doubts in this country and in the world.
As inflation in the country declined, question marks were raised about the Fed’s interest rate cuts, and as the dollar gained value against other currencies, interest rates on US bonds rose.
The price of an ounce of gold, which had broken a record before the elections, could not hold at these levels and began to decline due to the relative decrease in geopolitical tensions and the impact of Trump’s rhetoric.
The price of an ounce of gold, which fell to $2,536 in November, ended at $2,650, with a loss of 3.40 percent.
