Gold slumps as Trump's decisive victory pushes dollar and yields higher

Gold collapsed as bond yields and the dollar rose following a decisive election victory for the Republican presidential candidate Donald Trump ended the uncertainty that hovered over US politics.

Gold bullion fell as much as 3.2% as Trump's election victory rippled across global markets, with Treasury yields rising and the dollar gaining its most since 2022. A rise in the currency makes gold bars more expensive for many buyers.