NEW YORK (TheStreet) -- The price of gold was decreasing on Tuesday afternoon, as just hours remain until America learns who its next President will be. S&P Global equity chief investment officer Erin Gibbs discussed the correlation between gold prices and tonight's winner on CNBC's "Power Lunch" today.

"I really see gold as a reflection of investor fear and I would say that we've seen a fairly negative correlation to gold prices with a Clinton (D) win, so gold could go down a little or remain stable," Gibbs said. 

The correlation between the drop in gold prices brought on by a Clinton presidency is at about 40%, she noted.

"With a Trump (R) win, we've actually seen the price of gold have a positive correlation," Gibbs stated.

The more polls indicate that Trump wins the presidency, the more gold prices increase.

"We're looking at a 45% correlation, so gold could even go up by 3% if he wins," Gibbs added.

The price of gold will vary greatly depending on who captures the Office of the President tonight.

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