Trading Gold During This Election? Be Nimble, Advises Expert

KITCO NEWS - Gold (GLD) prices ended lower  Monday after news that the FBI cleared U.S. presidential candidate Hillary Clinton of any criminal charges regarding her personal email server.

Bill Baruch, chief strategist for Chicago-based firm iiTrader.com, said the news put risk appetite back into the marketplace, just one day ahead of the U.S. election.

December Comex gold settled the day down $25.10 at $1,279.40 an ounce. December Comex silver (SLV) also settled lower, down 22 cents at $18.151 an ounce.

Traders, who were long at  Friday's close, found that the exit was $20 lower at the Asian open.

So, is it better for gold traders to watch on the sidelines than to trade during this election? Baruch said it all depends on one's risk tolerance, and stressed it is important to remain "nimble" in this volatile market.

This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.