Gold edges lower on continued post-election fallout, higher interest rate expectations Gold falls on Friday as Donald Trump’s re-election continues to impact the precious metal. This reverses a short-term bounce following the Federal Reserve’s decision to cut interest rates by 0.25%. Gold (XAU/USD) edges down to trade around the $2,690 mark on Friday, extending the short-term bearish mini trend it has been in since it rolled over on Halloween. The decline comes amid market expectations that President-elect Donald Trump’s economic policies will be positive for the US Dollar (USD), as higher tariffs and tax cuts could keep interest rates high, supporting foreign capital inflows into the US currency. This, in turn is expected to pressure Gold lower since it is mainly priced and traded in USD. Gold further dips after the preliminary release of the Michigan Consumer Sentiment Survey rose to 73 in November from 70.5 in October, and above expectations of 71. This is likely to contribute to lifting expectations for interest rates in the future which is negative for Gold, a non-interest bearing asset.