​Gold drops down as dollar recovers

Discussion in 'Metals' started by Profiforex_Victory, Oct 31, 2016.

  1. Profiforex_Victory

    Profiforex_Victory Новичок

    Gold prices came down a bit lower today in course of North America's session. The U.S. dollar recovered from the selloff it experienced on Friday. The reason behind the selloff was the declaration of the FBI to probe into the case of Hillary Clinton using private email.

    The dollar has seriously felt the heat of fears that the US election was tilting towards victory for Republican candidate Donald Trump. A victory for Donald Trump doesn’t necessarily mean well for the dollar thus it means well for commodities.

    Gold December delivery on the Comex division of the New York Mercantile Exchange had gone down by $2.95, this amounting to 0.23%. This climb brings gold prices down to $1,273.85 for a troy ounce.

    Just last week Friday, the yellow metal had gone up by four-week climbing up to $1,285.40 as investors were shocked by reports indicating the readiness of the FBI to probe more emails associated with Democratic presidential candidate Hillary Clinton's private server. This is barely a week prior to the US election.

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