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£200m pot to breathe life into economy	01:03 Belfast Telegraph
Bank of England resists QE move to boost economy	01:03 Belfast Telegraph
Gold futures rise to Rs 31,537 on global cues	01:02 The Hindu Business Line - Markets
ECB’s Noyer: Sees progressive return to growth in Europe in 2013	01:01 ForexLive.com
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Rupee erases gains, steady at 54.36 vs dollar	00:41 The Economic Times - Markets
China's Industrial Output and Retail Sales Show Higher Growth	00:40 IBTimes.co.uk - Economy
Mallya will not sell 'family silver' for KFA	00:40 The Economic Times
FX round-up: Euro sinks on risk aversion	00:40 ShareCast
Commodities: Copper and gold futures gain	00:40 ShareCast
Russia Refrains From Rate Increase After Inflation Eased	00:38 Bloomberg - Regions
Forex: GBP/USD fails to hold 1.6000 handle	00:38 FXstreet - Forex News
Rupee pares early gains against US dollar	00:38 Business Today - Economy
Kuwait economy expected to grow at around 6.2% for 2012	00:36 Arab Times - Business
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30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
Germany: inflation steady at 2.0% in Oct	00:33 The Economic Times
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Rupee in tight band ahead of Diwali holidays	00:27 Yahoo! India
German inflation steady at 2 pct in October: official data	00:27 The Daily Star, Lebanon
US trade deficit narrows in Sept due to rise in exports	00:26 Arab Times - Business
Forex Analysis: US Dollar, Yen Vulnerable on Risk Appetite Recovery	00:23 Daily FX
QNET's Bags Two Coveted Gold Awards	00:20 Bernama - Malaysian National News Agency - Business
Pre Market Briefing, including 'ECB will buy sovereign bonds to avert disaster, says Mario Draghi'	00:16 Proactiveinvestors
FOREX-Euro bounces off 2-month low, seen still shaky	00:08 Reuters - Economy
BRC urges Chancellor to freeze 2013 business rates	00:08 Retail Week
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Economic Events - Month Ahead Events	00:01 MoneyAM
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Euro down on eurozone fears in Asia	00:01 Zawya
Dollar mixed in Asia amid Europe, US fiscal fears	00:01 Zawya
Economic Zealots Endanger Global Economy; IMF Hypocrites Urge Permanent US Can Kicking, Fiscal Stimulus, and Enormous Deficits	00:00 Mish's Global Economic Trend Analysis (Weblog)
Post-Election Wrap Up: Economy And Investing	00:00 ForexPros.com
Treasury Yields Update: Heading Lower?	00:00 ForexPros.com
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1 to 2 hours old www.usagold.com --LIVE NEWS--
Bullish on gold silver, says Emkay's Ashok Mittal	23:59 MoneyControl.com
China's leaders get good economic news	23:58 ABC Online
China's retail sales up 14.1% in first 10 months	23:55 China.org.cn - Business
Rouble stable ahead rate decision, Russian stocks down	23:54 Business Recorder, Pakistan
China’s factory output, retail sales rise in sign of recovery ahead of leadership change	23:52 The Washington Post
External economy considerations – Part 2	23:50 billy blog (Weblog)

>Gold Regains $1700 on Election Day and is Holding Those Gains

by Peter A. Grant

Nov 07, AM
(from USAGOLD.com) --

Gold rebounded sharply in the midst of Tuesday's US elections, retracing all of last Friday's post jobs report losses and then some. It was widely perceived that the re-election of President Obama would be good for gold, so maybe investors in the yellow metal were the first to concede that even though the popular vote was pretty evenly split, the realities of the Electoral College simply did not bode well for Mr. Romney.
However, as Mike Kosares wrote before the election, "the history of post-election years since 1971 suggests that the gold market is decidedly indifferent, or apolitical, if you will, about the outcome of presidential elections." Since Richard Nixon ended convertibility between the dollar and gold in August of 1971, there have been eleven Presidential elections. Here is how gold performed in the years immediately following those elections:

1973 after Republican victory: +73%.

1977 after Democrat victory: +21%.

1981 after Republican victory: -32%.

1985 after Republican victory: +7%.

1989 after Republican victory: -3%.

1993 after Democrat victory: +20%.

1997 after Democrat victory: -21%.

2001 after Republican victory: 0%.

2005 after Republican victory: +20%.

2009 after Democrat victory: +24%.

2013 after Democrat victory: ??

To summarize: The six “up” years, were evenly split; three when Republicans won the White House and three when the Democrats triumphed. Of the three “down” years, two occurred following a Republican victory and one when the Democrats won. There was one year the price of gold was essentially unchanged after a Republican victory and then of course it remains to be seen what the price of gold will do in 2013, now that Barack Obama has been re-elected.

Now the market's attention turns to weighty matters such as the 'fiscal cliff' and an impending battle over yet another debt ceiling hike. The Fed will maintain their super-easy policy stance, and may still heap additional accommodations on top of the already unprecedented measures, as the U.S. economy continues to sputter. The eurozone remains a mess with the Greeks voting on further austerity measures later this evening. Central bank gold demand, mainly for the purposes of reserve diversification is expected to remain robust, even amid rising supply concerns.

Gold extended gains in overseas trading today, establishing a new three-week high at 1731.38. Despite a subsequent intraday pullback, the yellow metal is maintaining gains above $1700, even though the dollar index snapped back to set new nine-week highs. The rise in the dollar is more a function of renewed euro weakness, yet traders continue to pay attention to the recent inverse correlation between the dollar and gold.

Our clients however are not traders. They buy gold as wealth preservation, portfolio diversification and for hedging purposes. They don't make their buying decisions based on who sits in the oval office, but rather based on the aforementioned reasons, like the 'fiscal cliff' and the ever-rising debt ceiling.

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 Regains $1700 on Election Day and is Holding Those Gains