Gold price (XAU/USD) trades in negative territory near $2,680 during the early Asian session on Monday.
Gold price loses ground to around $2,680 in Monday’s early Asian session. The strength of the USD undermines the yellow metal. The uncertainty surrounding global economic uncertainty, geopolitical risks might boost safe-haven flows, benefiting the Gold price. Gold price trades in negative territory near $2,680 during the early Asian session on Monday. The downtick of the precious metal is pressured by a stronger US Dollar due to Donald Trump's victory.
Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders.
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