Updated from 10:59 a.m. EDT with settlement prices
NEW YORK (
Gold for December delivery rose $4.20 to close at $1,779.80 an ounce at the Comex division of the New York Mercantile Exchange. The
"I think here in the U.S. we're definitely focusing on the first presidential debate," said Tim Harvey, senior vice president at ETF Securities U.S. "If Obama wins, then I think most people think we're looking at ... not necessarily more quantitative easing, but more of the same."If he wins the 2012 election, Republican presidential nominee Mitt Romney has said that he would unseat Federal Reserve Chairman Ben Bernanke. President Barack Obama has not expressed the same opinion, and Bernanke's term runs through Jan. 31, 2014. An average of major national polls shows the president with a lead over his GOP opponent with Obama holding advantages in most of the battleground states. Investors are keeping an eye on every campaign development to try and gauge who may win in November, and thus better position themselves for the policies that may emerge under the victor's administration.
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