Gold soars and stocks fall as markets now forecasting a Trump victory

6:22 AM Donald trump, dow, gold, gold price, hillary clinton, polls, presidential election, stocks No Comments

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

World stocks, the dollar and oil fell on Wednesday, while safe-haven assets such as gold and the Swiss franc rose as investors were rattled by signs the U.S. presidential race was tightening just days before the vote.

Investors were beginning to rethink their long-held bets of a November 8 victory for Democratic candidate Hillary Clinton amid signs her Republican rival Donald Trump could be closing the gap, deepening the recent decline across major stock markets. - NBC News