This bullish rally does not make sense after winning of Obama. If Obama wants to maintain same comfidence, he will have to take serious measures to boost American economy which appears to be going towards a disaster.
Gold Traders More Bullish After Obama’s Re-Election
Gold traders are the most bullish in 11 weeks and investors accumulated record bullion holdings on speculation U.S. policy makers will add to stimulus following President Barack Obama’s re-election. Twenty-five of 33 analysts surveyed by Bloomberg expect prices to rise next week and three were bearish. A further five were neutral, making the proportion of bulls the highest since Aug. 24. Investors boosted assets in gold-backed exchange-traded products to an all-time high of 2,596 metric tons on Nov. 8, valued at $144.9 billion, data compiled by Bloomberg show. Obama won the Nov. 6 election against Mitt Romney, who ... (full story)