A Brummie gold dealer was blessed with sales of almost £10m after Donald Trump was announced as America’s new president. So what other investment surprises might be coming our way?
Whilst the result caused gold to initially jump 5%, the value has now fallen back to more modest gains.
Financial uncertainty around the world, sparked by Donald Trump being elected as America’s 45th president, has seen demands rise in some asset classes that are understood as safe havens during tougher times.
Whilst gold experienced its best day of trading in eight years (it’s been traded at above £1,050 an ounce, compared to the six-month low of £821), it has now fallen again to similar levels to the pre-Trump era.
Overall, most markets showed a fairly quick recovery after an initial shock reaction. Kathleen Brooks, an analyst at City Index, said that this “suggests that a win for President Trump is not yet America’s Brexit moment. US Treasuries have reversed earlier gains, and yields are rising.”
She suggested that some of the market jitters were settled a lot quicker by Trump’s acceptance speech and the President-elect calling for the country to unite.
Overall, America’s shock decision to elect Donald Trump as their next president over Hillary Clinton, may have sparked less turmoil than experts assumed, at least on a financial level.
