After an initial spike, gold and gold-mining stocks settled slightly higher Wednesday as the markets reacted to Donald Trump's upset win in the U.S. presidential election the night before.
A similar theme of modest gains abounded across gold-mining stocks. Surprisingly, Barrick Gold ( (ABX) ) closed nearly flat at $17.25, up only .58% after it gave up virtually nearly all of its morning gains. Goldcorp ( (GG) ) closed up 1.83% to $15.02, while Randgold Resources ( (GOLD) - Get Report ) gained 3% to $86.22. The SPDR Gold Trust ETF ( (GLD) - Get Report ) actually closed down seven-hundredths of a percent at $121.56.
Dow Jones Industrial Average ( I:DJI )and S&P 500 ( I:GSPC ) futures plummeted on election night, leading many commentators fearful of a volatile trading day and pileup into traditionally "safe" assets like gold as the country reckons with the uncertainty of a Trump presidency.
However, the expected wildness in the market didn't came to pass, as the Dow and S&P 500 both closed higher.