Trump was elected back to the White House after one of the tightest presidential races in years.
Bullion shot to fresh records this week, and prices are on course for their best year since 1979.
Investors typically seek safety in gold in times of geopolitical and economic uncertainty.
But the rise of gold ETFs will still lead to a subsequent rally, the firm's analysts say.
Gold's record-setting rally above $2,500 an ounce looks to have further to run.
Inflows into gold-backed ETFs will “buffer the path to $3,000,” the bank's analysts wrote.
The precious metal has powered higher this year, dragging silver along with it.
The gains have been fueled by the expectation of lower interest rates.
Gold has risen more than 600% since the turn of the millennium.
A breakdown in the correlation between equities and bonds is helping to make the case for gold.