According to Peter Hug, global trading director at Kitco Metals, as of 11 p.m. EST, the stock and precious metals futures market is backing Trump’s re-election, this said.
Gold fell 1.19% at 9:30 p.m. EST, but rose again as President Trump closed the lead from Vice President Joe Biden. As of 11:30 p.m. EST, gold was down 0.6 percent, S&P 500 futures rose 1.3 percent, NASDAQ futures rose 3 percent, and Dow futures rose 0.65 percent.
Biden is said to have 192 electoral votes, with Trump 111.
“What it told me was that the markets, both the stock market and the metal market, from a bullish standpoint would prefer Donald Trump as president and continue for the next four years, and they are more worried about the job. Biden’s presidency, this Hug said.
Disclaimer: The views expressed in this article are those of the author and may not reflect the views of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, Kitco Metals Inc. and authors cannot guarantee such accuracy. This article is for informational purposes only. It is not an invitation to make any exchange for commodities, stocks or other financial instruments. Kitco Metals Inc. and the author of this article does not accept responsibility for damages and / or damages arising from the use of this publication.