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>Gold Steadies Before Electionby Peter A. Grant
Nov 05, AM 
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. NEWSLETTER SIGN-UP 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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