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– Mitch McConnell, Senate Majority Leader (based on Business Insider)
Pair's Outlook
Gold jumped during the US presidential election, as surprised market participants did not count on Donald Trump leading the race. The yellow metal managed to reach the 1,337 mark on early morning, as the Republican candidate had taken lead of the election. As noted before, the reason for the biased forecasts by the analysts around the world is that most of market participants belong to one social class, which voted for Clinton. In addition these type of analysts and market participants, and their opinion are considered important, as they manage large assets. However, nobody took into account that they might be biased.
Traders' Sentiment
SWFX traders actually shorted the bullion, as 57% of open positions were short on Wednesday morning. However, 57% of trader set up orders are set to buy the bullion.
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