All eyes on Mr. Trump - RSBL

Mayanksahu188@gmail.30 Dec, 2024Business

As per Gold price today, Gold posted its worst day’s decline in four years thanks to two key developments: Israel agreed to a ceasefire deal with Hezbollah “in principle” and Trump nominated Scott Bessent as US Treasury Secretary, both of which likely saw gold’s safe-haven demand drop alongside prices. While Bessent’s economic views tend to back economic growth and therefore be seen as inflationary, he is deemed a highly experienced, level-headed safe pair of hands for Trump’s cabinet. And someone who may take the sting out of some of Trump’s policies, such as aggressive tariffs which many feared were indeed inflationary.