Gold News: Fall into Your Safe Haven
Gold News
In the latest gold news: As of November 7, 2016 at 1:14AM EST, gold was trading at $1290.37. At approximately this time last week, gold was selling for $1273.31 per ounce.
During September 2016, Central Banks around the world loaded up on gold, adding a net 13 tonnes of the precious metal to their gold inventories. Russia purchased more than any other country with its purchase of 16.55 tonnes. The Central Bank of Russia has bought gold for 20 consecutive months as of September. China and Kazakhstan increased their gold stockpiles by 4.98 and 4.14 tonnes respectively.
Tomorrow is the biggest day in 2016 for the United States, the presidential elections. After 8 days of reviewing new Hilary Clinton emails, the FBI stated that there is nothing to warrant criminal charged against the presidential candidate. After the announcement, gold prices fell and the dollar strengthened. Analysts are predicting what will happen to gold depending on the outcome of the election. Due to the uncertainty of either outcome, analysts expect investors to rush to safe-haven gold. If Clinton wins, some analysts expect gold to shoot up by $100 and $200 if Donald Trump is to become the next president of the United States. Gold prices in Asia have already increased pending the upcoming elections and expectations of a US interest rate hike in December.
On October 30th, I Know First’s algorithm showed 80% accuracy with regards to its gold and oil predictions in the 3-day gold prediction as seen in ” Gold Forecast Based on Algorithmic Trading: Almost 7% Return In 3 Days” I Know First’s average percent change came out to an impressive 3.82%.
