Gold jumps to nearly 4-week high on FBI Clinton probe


28-Oct (Reuters) — Gold rose 1 percent to the highest level in nearly four weeks on Friday, extending gains late in the session after the FBI said it will further investigate Democratic presidential candidate Hillary Clinton’s use of a private email system.

Just 11 days ahead of the U.S. presidential election, the news shook up the campaign, in which Clinton is the front-runner in opinion polls.

Spot gold was up 0.8 percent at $1,278.38 an ounce by 2:54 p.m. EDT (1854 GMT), after rising 1.3 percent to $1,284.14, the highest since Oct. 4. It is on track to close the week up 0.9 percent.

…”The FBI headlines startled a somnolent gold market, driving bullion a percent higher in a hour on concerns that a late October surprise could suddenly bolster (Donald) Trump’s sagging fortunes,” said Tai Wong, director of base and precious metals trading for BMO Capital Markets in New York.

[source]

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