Gold rockets to 6-week highs on potential Trump win

Risk-off sentient is seen intensifying as we head into late-Asia, with investors fleeing to safety assets as markets have almost priced-in a Trump victory at the 2016 US presidential elections.

S&P futures and most major Asian indices are plummeting nearly 5% as markets give up risky assets in search of safe-havens, in a bid to protect their capital.

A Trump win is seen as negative for markets, as most analysts believe that Trumps anti-trade and taxation policies will push the US economy back on the brink of a recession.

As of writing, the NY times model raises chances of a Trump win at 85%, while the key states of Ohio and Florida have been called for Trump

Meanwhile, gold is last seen exchanging hands near $ 1320, up +3.50% on the day, having posted fresh six-week highs at 1324.10

Gold: Technical levels:

Key Resistances: 1325 (multi-week highs), 1350 (psychological levels)

Key Supports: 1300 (resistance-turned support), 1279 (20-DMA)