Global markets reacted on Wednesday with concern to Donald Trump's surprise victory in the U.S. presidential election, but construction, pharma and gold mining stocks emerged as big winners in the European trading session.
It took gold approximately 7 months to advance $250 and overcome major resistance at $1,300 per ounce from a bottom of $1,050. A reasonable target could be $1,550/oz ($1,300 + $250) by March 2017 – 7 months from now. Silver could follow a similar pattern with a near-term target of $26/oz."
The USD is lower across the board versus major currencies as the U.S. election enters its final stretch. The FBI investigation into Secretary Hillary Clinton's e-mails has eroded her lead in the polls and the battle for swing states will be crucial. The eyes of the world will be watching as votes start coming in on Nov. 8.