Gold soars in wake of Trump victory

Global stocks plunged, the price of gold soared and the dollar nose-dived on Wednesday in the wake of U.S. Republican presidential candidate Donald Trump winning the White House.

Report from Frankfurt showed that eurozone’s blue-chip Euro Stoxx 50 index dropped 2.74 per cent in opening trading to 3940.6 points.

It indicated that the dollar was down about 2 per cent against the world’s major currencies as Trump supporters celebrated victory over Democrat candidate, Hillary Clinton.

It added that the price of gold surged about 3 per cent to 1,314 dollars an ounce compared with Tuesday as investors frantically searched for safe-haven investments