Gold Corrects Sharply As Equity Markets Rally

After the initial spike in the gold spot price in the hours after the conclusion of the Presidential election, gold has slumped back down to close the week at $1,227. The highest point reached on November 9th was $1,331, on the 10th it was $1,288, and now today (Friday) its highest price was $1,260, until selling off sharply in the final hours of trading. Meanwhile, the Dow Jones Industrial Average is back hovering around its all time highs.