The gold price is poised for back to back gains today but most say the threat of a rate hike by the US Federal Reserve and proposed polices by president elect Donald Trump will ultimately drag the price down before the end of the year.

Going against all predictions, the gold has suffered since the US presidential elections on the back of a surging US dollar, while investors also discounted the fact that Trump would like to see higher interest rates,

“Gold price behavior before the US election was turned on its head immediately after,” says Jim Luke, a fund manager at Schroders.

 “Rather than a sustained safe-haven bid amid formidable global economic and political uncertainty, gold has sold off in line with increasing implied US real interest rates and a surging dollar.” He added.

With a now more than 80 percent chance that the Fed will hike rates before the end of the year, the precious metal will find it hard to gain traction as a stronger US dollar and higher interest rates is seen as negative for Gold as it is not an interest bearing asset.

“A stronger dollar, soaring equity markets and the prospect of further Federal Reserve interest rate increases that could follow the widely-expected increase slated for next month,” said Edward Meir, independent commodity consultant at INTL FCStone, in a note.