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The decline in gold since Trump's victory is due to several economic and political factors, including:

1. Growth-stimulating (inflationary) economic policies 💰📈

When Donald Trump won the presidency in 2016, he promised pro-growth economic policies, such as tax cuts and increased spending on infrastructure 🏗️. These policies, while stimulating the economy, were inflationary in nature, because they increased government spending and pumped more money into the market 💵.