{"id":2660,"date":"2024-11-14T12:32:15","date_gmt":"2024-11-14T12:32:15","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=2660"},"modified":"2024-11-14T12:32:15","modified_gmt":"2024-11-14T12:32:15","slug":"gold-drops-to-a-two-month-low-as-investors-turn-to-bitcoin-after-trumps-victory-but-this-economist-remains-confident-that-gold-will-surge","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=2660","title":{"rendered":"Gold Drops To A Two-Month Low As Investors Turn To Bitcoin After Trump’s Victory, But This Economist Remains Confident That ‘Gold Will Surge’"},"content":{"rendered":"
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Even after the U.S. headline and core consumer price inflation rose in the month of October, the Gold spot<\/strong> (NASDAQ:XAU<\/a>) prices fell to a two-month low and have been hovering in the same range. Key ETFs that track gold, have also taken a beating.<\/p>\n

This comes amid a rise in Bitcoin<\/strong>\u2018s (CRYPTO: BTC<\/a>) prices which is currently trading at above $90,000 a coin after President-elect Donald Trump<\/strong>\u2018s victory.<\/p>\n

Also read: <\/strong>Peter Schiff: US Bitcoin Reserve Could \u2018Destroy Dollar,\u2019 Predicts It\u2019s \u2018Highly Unlikely\u2019 To Happen<\/a><\/p>\n

What Happened: <\/strong>Gold spot prices were trading at $2,547.42 per ounce, as of 6:06 a.m. EST, which is the lowest since Sept. 11. Even though bullion is used to hedge inflation the prices of gold hovered around the two-month low levels despite the increase in the U.S. headline and core CPI data. The prices declined nearly 8% from the record high that it scaled on Oct. 31. The surge in the U.S. dollar also weighed on the precious yellow metal.<\/p>\n

Prominent Gold ETFs have also declined as the gold spot prices have fallen. According to Benzinga Pro<\/a>, Franklin Responsibility Sourced Gold ETF<\/strong> (ACRA: FGDL) declined by 1.19%, whereas the SPDR Gold MiniShares Trust<\/strong> (ACRA: GLDM) was down by 2.5%. Also, iShares Gold Trust Micro Shares <\/strong>(ACRA: IAUM) declined by 2.57% as of 6:06 a.m. EST.<\/p>\n

<\/figure>\n<\/p>\n

Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Even after the U.S. headline and core consumer price inflation rose in the month of October, the Gold spot (NASDAQ:XAU) prices fell to a two-month low and have been hovering in the same range. Key ETFs that track gold, have also taken a beating. This comes amid a rise in Bitcoin\u2018s (CRYPTO: BTC) prices which […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-2660","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2660"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2660\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}