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08.11.201622:45:00UTC+00Gold Rallies as Trump Wins U.S. Presidential Elections

Gold climbed by almost five percent to its strongest six weeks with investors turning to safe havens as Republican Donald Trump won the race for the White House over Democrat Hillary Clinton. A Trump victory could also incite the U.S. Federal Reserve to put off from increasing interest rates in December, analysts say.

U.S. gold for December delivery was previously up 4.9 percent at $1.336.40 per ounce. Spot gold increased by nearly 4.9 percent to $1,337.40 per ounce and was up 4.7 percent at $1,334.80. U.S. rates futures have shown that traders implied only a 36 percent likelihood of a Federal Reserve interest rate hike in December, as shown in Reuters data.

Spot silver climbed $18.996 per ounce and was last rose 3.2 percent at $18.93. Platinum was up by almost two percent and palladium fell 0.4 percent.

Tags: GOLD
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