Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Gold futures on the COMEX Division of the New York Mercantile Exchange slumped on Friday, dropping below the key mark 1,500 U.S. dollars, as safe-haven demand further weakened after Greece made progress on reducing its debt default risk.
The most active gold contract for August delivery shed 20.2 U.S. dollars, or 1.3 percent, to 1482.6 dollars per ounce, the lowest settlement for the latest six weeks.
