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Wednesday, November 7, 2012

Price of gold on Obama re-election

Well, it's been a mixed bag for me with the news that Obama will be re-elected. I backed Romney before Sandy so that bet is down the drain. However, the bet I have on gold going up has gone into profit. Fair enough, it's not a huge amount of money but it covers my loser on Romney:

When you consider the fact that my gold bet was around a hundred quid in the red the other day, I think I should be pretty happy to have got out alive here. Obama is likely to continue his QE programme, hence the rise.

It will be interesting to see how the markets (Dow and S&P etc) react when the American traders hit their desks later - it's been somewhat muted in Asia and Europe so far which means an Obama victory was probably priced in to the markets already.

On the racing, it's another blank day - I've been through the cards but couldn't find anything decent.

Best of luck with what you do today. 

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