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Commodities Briefing - Categorized | Bullion/Gold, Market Moves, Price Watch more

Gold enjoys Obama victory bounce

Posted on 08 November 2012

Gold continued to move higher on Wednesday morning on the expectation that the US will continue to provide monetary stimulus after Barack Obama won a second term as president. Spot gold was quoted at $1,725.64/1,726.21 per ounce, up $14.63 on the close and having peaked at $1,729.85 earlier.
It broke back up through $1,700 yesterday afternoon - it has gained around $40 in the past 17 hours or so - after early exit polls suggested that Republican challenger Mitt Romney would fail to unseat Obama. “An Obama victory was perceived to be good for gold and so it has turned out to be,” David Govett, head of precious metals at Marex Spectron, said………………………………………..Full Article: Source


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VRS - who has written 37015 posts on Opalesque Commodities Briefing.


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