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Metals Stocks: Gold tries to take a bite out of recent drop as U.S. presidential election under way

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Gold futures flipped between small losses and gains Tuesday, a day after suffering their sharpest one-day percentage loss in about five weeks, with traders showing caution ahead of the outcome of the U.S. presidential election.

“I don’t think that today’s gold trade has much to do with interest rates, support and resistance, or any other technical or financially-fundamental data,” said Adam Koos, president of Libertas Wealth Management Group. “Right now, all eyes are on the election.”

Gold for December delivery GCZ6, -0.32% fell $1, or 0.1%, to $1,278.40 an ounce after trading as high as $1,291.50.

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