The results of the American elections, where Trump won, led to a decrease in gold prices. The growth of the US dollar, caused by expectations of a Republican victory, smoothed out the potential rise in prices for the precious metal. December futures fell to $2,726 per ounce and reached the lowest since October. Despite this, some experts predict the potential for an increase in demand for gold as a safe asset in the event of trade disputes and the introduction of tariffs. Gold has risen in price by more than 30% this year, reaching record levels due to increased geopolitical risks and economic uncertainty. The Fed's interest rate cuts also contributed to a rise in the gold price in the second half of the year. Also, against the background of the Republican victory in the Senate, some analysts predict an increase in concern about the national debt. This circumstance may increase interest in gold as a risk mitigation tool.
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