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Gold Market Overview - Nov 21, 2016

The U.S stock market is soaring, pushing toward all-time highs on a flood of Trump optimism. In Asia, Indiaís currency mess continues; however, it seems to be having a beneficial effect on physical gold purchases in the country. Indian consumers are stockpiling gold bullion and jewelry; merchandisers struggle to meet demand.
According to reports from, some customers are paying up to double the going rate for gold. Strong physical demand in the Indian market has had a muted impact on global gold prices which are being kept down by the expectation of a U.S interest rate hike before the end of the year.

Top Development: What Does U.S Repatriation Mean for the Markets?

Corporate inversion was one of Trumpís key campaign issues. Corporate inversion occurs when a company, usually American, moves its domicile to a nation with a lower tax rate while keeping the bulk of its operations in the U.S. These companies often keep huge amounts of cash outside of the U.S because if they bring the money back, they can lose almost 40 percent to taxes.

American Fortune 500 companies hold $2.4 trillion outside of the country. The prospect of this money coming back to the United States is one of the key reasons why Trump's victory has been so beneficial to the markets.