Morning Snapshot: Gold drops with focus squarely on tomorrow’s election.

07-Nov (USAGOLD) — Gold came under pressure in overseas trading after the FBI cleared presidential candidate Hilary Clinton in the latest iteration of the email scandal. This triggered renewed risk appetite, pushing stocks and the dollar higher and weighing on gold accordingly.

Support marked by last Thursday’s spike low at 1284.80 was modestly exceeded, but last week’s low at 1271.00 remains protected at this point. While the market thinks there is some new-found clarity, tomorrow’s election results should still be interesting.