America Votes Trump President, Gold Climbs 5%

Gold Surges 5% After America Votes Trump President

• Gold surged over 5% – from $1,270/oz to $1,335/oz prior to profit taking
• Gold jumped to its highest level in six weeks on early reports that Trump had won the race to the White House; Largest gains since Brexit shock
• For the next few days, we can expect to follow the “Brexit playbook”
• “We are looking at very real prospects that the Fed would defer that rate hike into 2017…”

Gold has surged more than 3% to over $1,300/oz today after the shock election of Donald J. Trump as the next President of the United States of America. At one stage gold was 5% higher having risen from $1,270/oz to $1,335/oz as the dollar and stocks globally saw sharp falls.

The world isn’t sure what to make of it, other than concluding that perhaps Brexit wasn’t a mistake at all. Instead, it was a sign of the deep seated resentment and anger with the political and economic status quo foisted on the working and middle classes by western governments in thrall to corporation and banks.

Brexit and what will no doubt be seen as Brexit II, have both sent shockwaves through the US economy this year. Back in January had you asked for odds of both the UK leaving the EU, or the presenter of the Apprentice winning the US election, you probably would have been laughed out of the shop. Read full story…