This is a syndicated repost courtesy of The Daily Reckoning. To view original, click here. Reposted with permission.
On Election Night, Nov. 8, gold prices rocketed up by over $50 per ounce at one point, to $1,335 per ounce.
This was as news spread about the likely come-from-behind victory of Donald Trump over Hillary Clinton. Asian stock markets tumbled as panic selling took hold.
By the morning of Wednesday, Nov. 9, Trump was president-elect. Then – and this struck me as odd – by the time Clinton gave her belated concession speech, gold prices were giving up gains. After Clinton conceded, gold prices began to retreat below the previous day’s starting point. Global stock markets commenced a strong rally.
This post was published at Wall Street Examiner by Byron King ‘ November 19, 2016.
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