PT Equityworld-The price of gold rose to one-month highs in late trade Wednesday a.m. (02/11) terganjal worries over uncertainty about the US election that triggered a weakening in global stock market and the U.S. dollar, boosting interest in gold as a safe haven asset.
The price of spot gold Rose ends LLG 0.96 per cent at $ 1, 290.09 per ounce, the highest since it reached and early October at $ 1, 289.49 per ounce. While the price of U.S. gold futures for December delivery ended at $ 1,288 per ounce.
The FBI investigation to Hillary Clinton related a personal email server for serving as Foreign Minister sparked the so-called “fear index” from the volatility of the market to the highest level in a month on Tuesday, which triggered risk aversion.
Poll shows kememimpinan Democratic candidate Hillary Clinton over Republican Party candidate Donald Trump have narrowed slightly since the beginning of last week. If Trump WINS then chances will increase gold because of uncertainty over the economic policies of the U.S. and abroad, HSBC said in a note, consider also protectionist policies Trump and his commitment to tax cuts, which it is estimated could increase the federal budget deficit.
The U.S. dollar dropped against the euro and 0.6 percent stock market Wall Street and Europe were in the red zone in the last days of the U.S. presidential campaign. The two-day Federal open market Committee meeting beginning Tuesday will also be strictly monitored for clues on the likelihood of a rise in interest rates time us.
The market price was around 78 percent chance the Fed will raise interest rates in December, but only a 6 percent chance of a hike this week, according to CME Group FedWatch tool. Silver rose 2.8 percent on $ 18.37 per ounce, after reaching its peak at $ 17.88, while platinum rose 1.4 per cent at $ 990.41 per ounce, down early a month from $ 996.10. Palladium rose 1.8 per cent at $ 629.40.
Analyst Equity Research Center estimated the price of gold on the next trade potentially rise triggered the uncertainty surrounding the U.S. presidential election which increases interest in safe haven for gold. The price is estimated to be moving in the range of $ 1.292 Resistance-$ 1.294, whereas if prices fall will move in a range of $ 1.288 Support-$ 1.286.