The world watched as the votes were tallied up for the presidential election on November 8th, 2016. Elections usually do trigger a change in the stock market. But this time it was different. Considering how different this presidential campaign was to previous ones, it seemed fitting. Many people, let alone Republicans, and certainly investors did not expect Hilary Clinton to be defeated. Such sudden change and unexpected turnouts caused investors to panic as uncertainty for the future economy grew.
In a stunning knee-jerk reaction, investors panicked as they unloaded shares and bonds once it became apparent that Donald Trump would assume the presidency. Gold prices jolted to as high as $1338.30(USD) an ounce while futures on the Dow Jones Industrial Average plunged more than 800 points. But since then the market has rallied and closed for a record high for the second day in a row. Gold fell not long after as investors shifted focus on trades that would be affected by the president-elects presumed agenda.
Still, some analysts expect gold to rise steadily as uncertainty in the market looms and investors seek out more safe-haven assets amid a volatile market.