The price of gold fell to a five-month low in trading in New York today, as the US dollar crept higher.
Prices on the New York Mercantile Exchange fell one per cent to $1,212.10 a troy ounce as investors became increasingly bullish about what will happen next.
So much for treasuries, gold and the yen - as the Dow Jones hit yet another record high today, it became increasingly clear investors are betting on exciting stimulus measures from Trump. Or, at the very least, an interest rate rise.
"Financial markets have started this week as they left last week, with the initial fear associated with Donald Trump’s impending presidency transformed into an overwhelming bullish risk-on sentiment," said Joshua Mahony, market analyst at IG.
"It is clear that investors are increasingly willing to take risks with a view that we will see substantial gains across a number of sectors.
"With rates likely to rise the banks are coming back into favour, and with infrastructure projects in the pipeline construction companies are coming into vogue. There is no doubt that this Presidency will provide opportunities and investors are adjusting their portfolios to account for that.
"Interestingly, while we are seeing investors flock to risk assets in anticipation of heightened economic growth, the one major roadblock is the unpredictability of Trump, whose off-the-cuff nature could see him go back on a number of previous pledges."