Gold Market Awaiting Election Results

Gold futures prices seemed to start recovering, testing support below $420 per ounce, as the dollar strengthens and oil prices continue falling below $50 per barrel.

Markets are all now awaiting for the election results. Sen. John Kerry was expected to ease tensions in the Middle East. This may reduce the fear-premium that has built up in oil prices over the past few months.

However according to the latest results, George Bush is more likely to win