Friday, March 29, 2024
Homemetal commoditiesGold down as dollar and stocks gain after US debate

Gold down as dollar and stocks gain after US debate

Gold fell on Tuesday as the dollar and stocks gained ground on the view that U.S. presidential candidate Hillary Clinton got the better of rival Donald Trump in their first debate.

Markets have tended to see Clinton as the candidate of the status quo, while few are sure what a Trump presidency might mean for U.S. foreign policy, trade and the domestic economy.

Gold, which is often seen as an alternative investment in times of geopolitical and financial uncertainty, suffered after the debate as a higher appetite for risk favored shares, the dollar and the Mexican peso over the precious metal.

Spot gold was down 0.7 percent at $1,326.91 an ounce, snapping a six-day winning streak. U.S. gold futures for December delivery settled $13.70 lower at $1,330.70 per ounce.

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