10.11.201600:26:00UTC+00Gold Stable After Jump on Trump Victory

Gold was steady following its brief surge to a six-week high during the previous session, with the U.S. dollar and global markets showing startling gains after Republican Donald Trump's presidential win. Spot gold was flat at $1,278.25 per ounce.

U.S. gold futures climbed 0.41 percent to $1,278.70 an ounce. Trump's victory raises doubts in global financial markets if the Federal Reserve will increase interest rates in December and follow with more gradual raises in the succeeding years. Spot gold prices jumped almost five percent as Trump surprisingly won the U.S. presidential election that spurred the buying of physical gold.