Gold and copper plummeted as Donald Trump retook the White House, while a rising dollar put pressure on commodities as traders weighed the implications of his views on trade, geopolitics and the US economy.

The precious metal fell the most since June and copper saw its biggest decline since May, as Trump’s victory rippled through global markets and put the dollar on track for its best day since 2020. A rise in the currency makes metals more expensive for many buyers.