Get Premium Data for Cyber Monday: Up to 55% Off InvestingProCLAIM SALE

Commodity Prices Fall On News Of Trump Election Victory

Published 2024-11-06, 05:44 a/m
Commodity Prices Fall On News Of Trump Election Victory
USD/CNY
-
GC
-
HG
-
CL
-
ZS
-
ZW
-
ZC
-
USD/CNH
-

yolowire.com - Commodity prices around the world are falling on news that Donald Trump has won the U.S. presidential election.

Prices for commodities ranging from Oil and Metals to Grains are sharply lower as a Trump win raises fears of U.S. import tariffs and protectionist trade policies.

Oil prices are down more than 1% as the U.S. dollar rallies on news of Trump’s election win.

Metal prices also fell, with gold sliding to a three-week low and copper’s price declining 2% in early trading on Nov. 6.

Agricultural commodities are also taking a hit, with prices for soybeans, wheat and corn all dropping on expectations of renewed trade tensions with China.

Trump campaigned on promises to put America’s interests first, implement new tariffs on imported goods, and undertake policies that protect the U.S. economy.

Investors and traders clearly see this as bad news for global commodities. China is expected to be particularly hard hit with tariffs on its U.S. imports expected to rise sharply.

Trump has pledged to impose blanket 60% tariffs on all Chinese goods to help boost the U.S. manufacturing sector.

At the same time, the copper market is pricing in a possible rollback of U.S. subsidies for electric vehicles, which could hurt demand for the red industrial metal.

Many analysts and investors also believe that Trump's presidency will bolster the U.S. dollar as interest rates may need to remain high to combat inflation that would result from new tariffs.

This content was originally published on yolowire.com

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.