Citi Warns on Gold as Bank Boosts Odds of Trump Win to 40%
- U.S. ‘polls have started to tighten,’ Citigroup says in report
- Presidential contest is ‘increasingly bizarre,’ bank says
Citi Warns on Gold Amid Trump Odds
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Gold may be in for a bumpy ride in the final quarter as Republican candidate Donald Trump now has a 40 percent chance of winning the presidential election and investors will be preparing for the possibility of higher U.S. interest rates, according to Citigroup Inc.
Volatility in bullion and foreign-exchange markets may increase, according to a commodities report from the bank as it raised the odds on a Trump victory over Democrat Hillary Clinton in November from 35 percent. There would probably be a single U.S. hike by year-end, it said. A Bloomberg Politics poll has Trump and Clinton deadlocked before a debate later today.