For the first time since the early October beat down of gold, the precious metal crossed over $1300 per ounce as revelations from the FBI on re-opening the cast against Hillary Clinton has pushed the markets into believing that Donald Trump has a strong shot at becoming the next President of the United States.
In Monday's trading, gold rose over $10 and stocks fell to the point that the 18,000 level was breached on the Dow for the first time since August. And in the pre-market today that trend is continuing as gold is up another $10 while stock futures are down another 39 points.
In a study released last week the GFMS team at Thomson Reuters concluded that while a Clinton win would not have a dramatic impact on the gold price, a Trump triumph will put pressure on financial markets and the dollar, prompting investors to seek the relative safety of gold:
According to GFMS a Trump victory could spark a rally to $1,400 and maybe even $1,500 in our view while a win for Clinton would likely see prices ebb lower. - Mining.com