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NEW in the last 5 minutes www.usagold.com --LIVE NEWS--
Shekel gains against dollar after Obama victory	01:37 Israel Business Arena - Business
5 to 10 minutes old www.usagold.com --LIVE NEWS--
Oh, for a Greek version of Nate Silver	01:34 FT.com - FT Alphaville
Pound Rises Versus Dollar Before Bank of England Policy Meeting	01:31 Bloomberg - Markets
Early Economic Evaluation from GE Healthcare Highlights the Potential Benefits of Biomarker-Directed Care in Breast Cancer and Renal Cell Carcinoma	01:31 Business Wire (Press Release)
EU sees Italy's economy shrinking 0.5 pct in 2013 -media	01:31 Reuters.co.uk - Regulatory News
10 to 15 minutes old www.usagold.com --LIVE NEWS--
EU sees Italy's economy shrinking 0.5 pct in 2013 - media	01:27 Yahoo! UK & Ireland
Report Raises Questions About Central Bank Gold Holdings‏	01:26 ForexPros.com
Commodity Update: Gold Headed To $2000?	01:26 ForexPros.com
Surprise! Evangelicals Were Once Radical Economic Populists Who Planted the Seeds of Our Own Struggles Against the 1%	01:26 AlterNet.org - Economy
U.S. Dollar Buyers Run To The Exits As Obama Wins 2nd Term	01:25 SeekingAlpha - Macro View
15 to 30 minutes old www.usagold.com --LIVE NEWS--
Switzerland: Foreign Currency Reserves narrow to 424.4B in October	01:24 FXstreet - Forex News
Forex Flash: Market was largely pre-positioned for Obama victory – UBS	01:24 FXstreet - Forex News
Forex: USD/JPY retraces decline post Obama victory	01:24 FXstreet - Forex News
Forex: EUR/USD dipped to 1.2850 on Spanish data	01:24 FXstreet - Forex News
Forex: NZD/USD testing the 0.8300 level	01:24 FXstreet - Forex News
SNB's forex reserves down slightly in October	01:22 Reuters.co.uk - Markets - Switzerland
LuxCloud, Silver Sponsor at the Open-Xchange Summit 2012	01:19 Yahoo! US - Business - Press Releases
Obama Defies History on Economy, Wins With Coalition Vote	01:19 Bloomberg - US
Treasury notes: BTP/Bund spread falls to 342 points	01:17 AGI.it - Sport
Strong Peso Could Bolster Bull Case For The Philippines	01:16 ForexPros.com
Switzerland Foreign Currency Reserves decreases to 424.4B in Oct from 429.5B (Sep)	01:14 FXstreet - Forex News
Forex Flash: EUR/USD corrective strength may test 1.2961 - Commerzbank	01:14 FXstreet - Forex News
Ex-Treasury chief urges gov’t to help sectors affected by higher sin taxes	01:13 GMA News - Economy
Dollar stumbles against euro after Obama win	01:11 The Asian Age - Business
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
PhillyDeals: Home, car demand rise, signal boost in economy	01:08 The Philadelphia Inquirer, Pennsylvania - Business
Euro below USD 1. 29; dollar weak after Obama re-election	01:06 AGI.it - Sport
Euro rises as QE expected to continue	01:06 Business World
Euro Hangs On Greek Vote	01:06 ForexPros.com
Swiss luxury lifestyle costs surge relative to retail inflation	01:05 TheWealthNET - Wealth Technology
The Royal Mint to offer gold bullion storage service for HNWIs	01:05 TheWealthNET - Wealth Technology
Leading euro equity manager remains positive on luxury goods	01:05 Citywire - Global
Election over, Obama to face same weak economy	01:05 RTE - Business
Forex Flash: USD/CHF at 0.9438 is a matter of time - Commerzbank	01:04 FXstreet - Forex News
Forex: USD/CHF below 0.9400	01:04 FXstreet - Forex News
Obama needs a dealmaker for his new Treasury chief	01:02 Fox Business - Industries
Can You Beat Inflation With Dividends?	01:00 SeekingAlpha - Investing for Income
Economic growth has slowed	01:00 Belfast Telegraph
Rupee trading at 54.18 in intra-day trade	00:57 The Hindu Business Line - Markets
Gold hits 1-week high on Obama vict …	00:57 Yahoo! India
Gold prices hit 1-week high on Obama victory	00:57 The Economic Times - Markets
Obama handily re-elected despite shaky economy	00:56 The New Indian Express - Business
Europe needs a lower Euro	00:56 Business World
Euro rises, commodity currencies rally versus dollar	00:54 Reuters - Economy
RI economic agency holding storm loan meetings	00:54 The Boston Globe - Business
Forex: AUD/USD extends its upside	00:54 FXstreet - Forex News
India Inc. Vs Government at World Economic Forum	00:53 WSJ: India Real Time (Weblog)
German Bonds Fall Before Note Auction, EU Retail Sales Report	00:51 Bloomberg - Markets
Japan opposition leader urges Bank of Japan to target 3 percent inflation	00:46 Yahoo! UK & Ireland
Raise A Glass To Whiskey Stocks: Beam, Brown-Foreman And Diageo	00:46 ForexPros.com
In the end, Obama won on the economy	00:45 MoneyControl.com

>Gold Firms on Election Day

by Peter A. Grant

Nov 06, AM
(from USAGOLD.com) --

Election day...at last. An end to the incessant political ads and robo-calls. So whatever the outcome, at least we have that to look forward to...

Perhaps we will have some resolution in the gold market as well. While the yellow metal has been edging higher in the wake of Friday's sharp losses, it remains to be seen if today's election will be the catalyst to push the market one way or another. UBS analyst Edel Tully says, “An Obama win would be the best-case scenario for gold, both from its implications for both monetary and fiscal policy.” Tully seems to believe that a reelection of President Obama essentially assures 'more of the same': More expansive monetary policy. More deficit spending and greater debt.

Conversely, “If Romney wins, we expect gold’s knee-jerk reaction to be negative, and we look towards $1,647 for initial support, the Aug. 31 low, with the potential for a deeper follow-through,” says Tully. Presumably, a Romney win would signal that Ben Bernanke's days as the Fed chief are numbered, although he reportedly may not seek reappointment no matter who wins today. Yet, given the state of the economy, Romney would be very unlikely to appoint a monetary hawk to run the Fed.

Not to beat a dead horse, but the President has very little influence on the operations of the central bank, beyond appointing someone to run it with a particular bias. As for fiscal matters, that is the realm of Congress. And Congress is expected to remain divided.

On inauguration day in January, whomever takes the oath of office of the President of the United Sates, they will still be faced with a moribund economy, stubbornly high unemployment and a debt load near the $16.4 trillion limit. Europe will remain mired in its own debt crisis, that continues to threaten the very foundations of the EU. Countries around the world will continue to head the siren-song of competitive currency devaluation, in the hopes of an export edge that will reinvigorate flagging economies. This will in turn continue to prompt reserve diversification out of these debased currencies and into hard assets.

These are the reasons to own and to buy gold...not who will sit in the Oval Office for the next four years.

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 Firms on Election Day