Global markets were clattered by early indicators of a Trump victory. Gold and silver prices soared as investors switched to safe-haven assets to avoid losses. Precious metals had tended to hold its value and rise in times of uncertainty.

Gold had been trapped in a range of around $1,220-$1,240 since early February, with unease over the European and U.S. political outlook supporting demand for bullion as a safe haven while the prospect of rising interest rates kept a lid on gains.

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Gold and silver prices had been dropping in anticipation of a more aggressive policy coming from the Federal Reserve. This change in tone has pushed gold prices higher and has also increased optimism around the gold price forecast.