A Democrat lead in the Georgia Runoffs election should be positive for gold, as more stimulus can be expected from a Democratic Senate, but gold prices fell today.
Gary Wagner, editor of theGoldForecast.com, said the markets took a bigger risk after the news.
‘I believe the Dow had to do a lot [with it]To venture into a market environment and take away that safe haven sentiment, and that’s one of the reasons we’ve seen such a quick sell-out, Wagner said.
The other reason for the downturn in gold is that financial institutions have started making profits at the current level.
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