Citigroup: Gold often performs poorly in the weeks following the U.S. election

Citi analysts stated in a report that after the U.S. elections, gold may face selling pressure, especially if Trump wins. If Trump, who proposed tax cuts, wins, it could boost the stock market. Analysts noted that gold prices fell by 8.2% in the month following Trump's victory in 2016. They added that since the 1980s, gold has often performed poorly in the weeks following most U.S. elections. Citi analysts recommend buying on dips. Some investors hold gold as a hedge against uncertainty. They believe the bull market remains intact and expect gold prices to rise to $3,000 per ounce in the next six months, supported by a weakening U.S. labor market and rising ETF demand