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US Election: How will gold react? #SaxoStrats
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If Hillary Clinton wins the US election as expected, what will happen to gold, asks Saxo Bank’s head of commodity strategy Ole Hansen.
The gold market is pricing in a Clinton victory with the yellow metal seeing sharp falls on Monday.
A Donald Trump win would send gold higher, says Hansen, but the market is looking to a likely interest rate hike in December by the Fed following Clinton’s expected win.
Hansen says that gold is looking for support between $1,283 and $1,275 while $1,267 needs to hold otherwise October’s lows could be revisited.