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

Obama re-election means ‘perfect storm’ for gold - Nichols

Posted on 09 November 2012

The gold price reacted sharply upwards to President Obama’s re-election, with the U.S. dollar initially falling, but then the dollar recovered as Europe’s woes continue to depress alternative currencies and gold drifted back, before moving sharply upwards again in later trading despite the dollor index remaining up a little - which many would take as a very positive sign for gold and the other precious metals which rose along with it.
The Obama factor has certainly had a positive effect on the gold price whereas a Romney victory might have driven it lower, and the gold bulls doubtless feel that this could be the trigger gold really needs to take off to new heights - although their predictions for the U.S. economy in general are dire suggesting that any signs of recovery will be shortlived………………………………………..Full Article: Source

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VRS - who has written 36521 posts on Opalesque Commodities Briefing.


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