Gold slips as equities gain ground
Metal falls to $1,335.46 as stocks bounce back and the dollar strengthens, hinting that investors view Democrat Hillary Clinton as the winner of the presidential debate
BENGALURU — Gold edged lower on Tuesday as equity markets bounced back and the dollar strengthened, hinting that investors viewed Democrat Hillary Clinton as the winner of her first US presidential debate with Republican Donald Trump.Spot gold was down 0.2% at $1,335.46/oz by 2.49am GMT. US gold futures eased 0.4% to $1,339.20/oz.Asian shares recouped losses from earlier on Tuesday and the dollar edged away from a one-month trough against the yen.Markets have tended to see Clinton as the candidate of the status quo, while few are sure what a Trump presidency might mean for US foreign policy, trade and the domestic economy."The debates have the potential to boost market volatility in coming weeks, including gold," said HSBC analyst James Steel.The dollar index, which measures the greenback against a basket of six major currencies, was up 0.1% at 95.354.A stronger greenback makes dollar-denominated gold more expensive for holders of other currencies."The current $1,330-$1,342 range is...
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