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NEW in the last 5 minutes www.usagold.com --LIVE NEWS--
Ethical asset funds see highest drop in retail sales on record	18:43 City AM
$A dollar higher ahead of rates decision	18:41 The Age
Frontier Resources drills 39.3g/t gold in Papua New Guinea	18:41 Proactiveinvestors - Australia
5 to 10 minutes old www.usagold.com --LIVE NEWS--
Forex: Fed's Williams unlocks USD off EUR 1.28 low	18:39 FXstreet - Forex News
Indonesia’s Economic Growth Tops 6% for 8th Quarter	18:38 Jakarta Globe - Business
U.K. October Retail Sales Fall as Britons Cut Spending, BRC Says	18:38 Bloomberg - Markets - Currencies
U.K. Retail Sales Disappoint in October	18:38 Fox Business - Industries
Oregon's economy slows further in September, U of O index shows	18:36 The Oregonian
10 to 15 minutes old www.usagold.com --LIVE NEWS--
Gold imports fall 22.73pc during 1Q	18:34 The Nation - Business
Political stability must to ensure economic development: Zafar	18:34 The Nation - Business
Millennium Minerals hits top gear with full gold production at Nullagine	18:31 Proactiveinvestors - Australia
FOREX: Ringgit Opens Little Changed Against Dollar	18:30 Bernama - Malaysian National News Agency - Markets
15 to 30 minutes old www.usagold.com --LIVE NEWS--
Young workers’ retirement hopes grow bleaker amid economic downturn	18:27 The Washington Post
Euro Near 8-Week Low on Greece Aid Concern, Slowing Data	18:26 Bloomberg - Japan
Forex: AUD/USD could rise above 1.0410 after RBA	18:19 FXstreet - Forex News
Forex Flash: US election to bring renewed USD volatility - Standard Chartered	18:19 FXstreet - Forex News
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
Are Treasury Bond ETFs Forecasting An Ohio Recount?	18:13 SeekingAlpha - ETFs & Portfolio Strategy
Australian Dollar Outlook - 06/11/2012	18:11 IBTimes.co.uk - Economy
Economy the biggest challenge for China's new leader	18:11 The Irish Times - Personal Finance
Spain vetoes contentious ECB appointment	18:11 The Irish Times - Personal Finance
Fed’s Williams says they unconventional monetary policies have boosted growth without creating unwanted inflation	18:11 ForexLive.com
Nikkei falls before U.S. election results, weak euro hits mood	18:10 Reuters - Economy
Chinese traders aim to keep stocks low in uncertain economy	18:08 Steel Business Briefing
Forex Flash: Supporting USD/JPY upside over the next 3-6 months - Nomura	17:59 FXstreet - Forex News
Forex Flash: EUR/USD should struggle below the 200 DMA - Econometer	17:59 FXstreet - Forex News
This Ugly Chart Illustrates How Australia's Economy Is Such A Mess	17:49 Business Insider - Finance
In this dented economy, cut the next president a little slack	17:47 St. Petersburg Times, Florida
Premier displays confidence in economy	17:45 China.org.cn - Business
1 to 2 hours old www.usagold.com --LIVE NEWS--
For economic clues, watch Congress	17:44 MSN Money - Market Commentary by Jim Jubak
Italy’s economy forecast to shrink	17:43 The Star Online
Japan Stocks Decline Ahead of U.S. Presidential Elections	17:40 Bloomberg - Regions
Forex: EUR/USD flat at 1.28, support at 1.2740	17:39 FXstreet - Forex News
FTSE falls on uncertainty over US election and fall in price of copper	17:37 City AM - Investments
France vows 'tough decisions' to boost ailing economy	17:30 Business Times Online - World
Unlimited Japan Lending May Help Weaken Yen, BOJ Executive Says	17:28 Bloomberg - Worldwide
DATA SNAP: UK Retail Sales Disappoint in October - BRC	17:28 Fox Business - Industries
The economic outcomes of a close call election	17:27 City AM - Investments
Spain blocks ECB nominee as gender row deepens	17:22 Middle East North Africa Financial Network
How the dollar could predict the US victor	17:17 City AM - Investments
ECB Denies Miscalculating Ticket Demand	17:13 SportsBusiness Daily
U.K. October BRC retail sales monitor	17:10 ForexLive.com
ECB Constancio: Issue Of ECB Collateral Treatment ‘Settled’	17:10 ForexLive.com
University vice chancellor heads government's innovation group	17:09 BusinessMK
United Kingdom BRC Retail Sales Monitor - All (YoY) -0.1% in Oct	17:09 FXstreet - Forex News
Forex Flash: RBA at 50:50; AUD/USD 1.03, 1.0420 key levels - NAB	17:09 FXstreet - Forex News
Euro Shaky After Fall; Aussie Eyes RBA Rates	17:08 CNBC.com - Currencies
Canyon Copper Corp. Announces Change in Officers and Directors	17:05 PR Newswire (Press Release)
Europe, ECB Spar on Relief for Greece	17:01 The Wall Street Journal
Forex: USD/JPY positive bias still intact – V.Bednarik	16:59 FXstreet - Forex News
Australian Dollar Stays Higher Before RBA Interest-Rate Decision	16:55 Bloomberg - Markets

>Gold Steadies Before Election

by Peter A. Grant

Nov 05, AM
(from USAGOLD.com) --

Gold is a little better to start the week, after posting the largest one-day drop since June on Friday. While October nonfarm payrolls came in better than expected to close out last week, it was hardly a game changer.

Nonetheless, the market wasn't as comfortable with its positioning ahead of the Presidential elections as I had thought. Whether that was a function of the jobs report, and diminished expectations of further Fed accommodations, or a more general heightened sense of uncertainty surrounding the election itself remains unclear. However, I maintain that no matter who wins the election tomorrow, the underlying fundamentals in the gold market remain favorable.

Whomever is the President come January will still be faced with a mountain of debt and probably a contentious debate over another debt-ceiling hike. The economy will still be sluggish and the jobless rate will still be uncomfortably high. The Fed's über-easy monetary policy will still be in place, as will the accommodative policies of all the other major central banks. Central bank demand for gold will remain robust. And supply concerns will persist as well.

These are all key reasons to own gold. None of them are going away any time soon.

Peter Grant is USAGOLD's resident economist and a well-known analyst globally in the forex and precious metals markets.

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Opinions expressed in commentary on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD does not warrant or guarantee the accuracy, timeliness or completeness of the information found here.

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>Gold Steadies Before Election