What we saw on November 09, 2016 has given a tremendous boost to gold miners at the back of the 2016 US presidential election with Donald Trump’s position on the winning side. With the counting of votes, the precious metal witnessed fluctuations, but finally, the gold prices surged to about $1,337 a troy ounce. This, in turn, impacted the gold mining stocks in a positive way just before the Australian market close when majority of other shares started sinking in the negative territory. For instance, Saracen Mineral Holdings Ltd stock surged above 15 percent while Evolution Mining was up 11%. Overall, S&P/ASX All Ords Gold (INDEXASX: XGD) surged 9.6 percent on November 09, 2016 while S&P/ASX 200 (INDEXASX:XJO) fell 1.92 percent.
 

Stock Price Movement (Source: ASX)
 
The rise in gold prices reflects the biggest gain post Brexit vote. Even before the election result outcome, many analysts forecasted gold prices to surge 5 to 7 per cent to $1,375 - $1,400 a troy ounce with Donald Trump winning the election. At this point and post the vote count, the gold prices have surged about 5 percent on November 09, 2016 while other stocks have been seen to dive down. There are reports that thirty-five billion dollars have already been wiped from the value of Australian shares on said date. On one side where spot gold moved to a six-week high of $1,337.40 an ounce, U.S. gold futures for December delivery were up $26.90 an ounce at $1,301.40, having peaked at $1,338.30. Many experts believe that stocks may digest the gold price rally over a period of about 10 days. As of now, investors have been found to exit the risk assets and are rushing again to safe havens. On a related note, the market believes to have an 80 percent consensus for a U.S. rate rise in December 2016.
 

Gold Prices (Source: Financial Times)

Disclaimer
 
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated pages are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376).The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd currently hold positions in:  BHP, BKY, KCN, PDN, and RIO. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.