The news that Donald Trump has clinched the Presidency of the United States has taken commodities on a ride. This turn that has made the dollar more expensive could not be more important for your portfolio as we will explain in this subscriber-only article.
In Detail:
The Trump win made commodities retreat this morning of 6th November 2024. It was driven by expectations that a stronger US dollar and potential trade tensions under a second Donald Trump administration could dampen the appeal of raw materials in global markets.
In London, Brent crude futures declined by as much as 2.5%, while soybeans in Chicago posted their largest drop in a month. Copper led industrial metals lower with a 3.6% drop, and gold fell below $2,700 per ounce.
With Trump securing a return to the White House, the U.S. dollar surged, posting its largest gain against major currencies since 2020. This strengthened dollar makes commodities priced in the greenback more expensive f ...
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