Grains also retreated along with equities and the U.S. dollar as investors anticipated global uncertainty when Republican Trump takes the helm of the world’s biggest economy, having edged out Democratic rival Clinton. Copper recovered to hit its highest since September 2015.
The selloff in most risky assets was reminiscent of the market turmoil in June when Britain voted to exit the European Union which pushed gold up more than 8 percent at one point as investors chased safe havens.
“This is deja vu of the Brexit moment, very worrying,” said Bob Takai, president at Sumitomo Corp Global Research in Tokyo.
Source: Reuters UK