Gold Futures Prices Slumps As Equities, Dollar Gain After US Presidential Debate

Gold Futures Prices Slumps As Equities, Dollar Gain After US Presidential Debate

Gold futures prices were lower on Tuesday, extending overnight losses  as equity markets bounced back and as markets declared Democrat Hillary Clinton as the winner of her first U.S. presidential debate with Republican Donald Trump.

Gold for December delivery on the Comex Exchange declined $8.45, or 0.63%, to $1,335.65 a troy ounce.

Spot gold was down 0.2 percent at $1,335.46 an ounce by 0249 GMT.

Democratic nominee Hillary Clinton seemed to have beat his Republican opponent Donald Trump in First Presidential Debate, based on analysts taking on market reaction.

Online betting companies shorten probability of a victory for Clinton in the wake of the debate Monday night, leaving her as the clear favorite amongst bettors.

Traders are waiting mostly Democratic candidate Hillary Clinton to win the presidency and have not been taken considering the implications of a victory of Donald Trump. The idea of Trump at the White House is a concern for some investors who resist populist, be unpredictability style.

Recent surveys have demonstrated a tightening race with only about six weeks to go until the November elections for 8 people. The next presidential debate is programmed for October 9, with the third and final series of shock for 19 Oct.

Asian stocks recovered earlier losses on Tuesday and the dollar away from a channel a month against the yen.

The markets have tendency to see Clinton as the candidate of the status quo, while few are sure what Trump presidency could mean for US foreign policy, trade and the national economy.

In Delhi Gold remained weak for a second day as prices fell by Rs 70 to Rs 31,450 per ten grams amid easing demand from jewellers at the domestic spot market and a weak trend overseas.

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