Gold steady ahead of French election
21 Apr 2017 By Duncan Richardson
Last night’s terror-related shooting in Paris has the potential to change the course of the upcoming French election.
With a record number of voters still undecided, experts say the shooting of a police officer on the Champs Elysees could bolster support for National Front leader Marie Le Pen.
Last night’s attack comes only two days after police arrested two French nationals in possession of explosives in the city of Marseille.
Security in the country is far from assured and officials are concerned voters may stay at home on Sunday. A low turnout could benefit Le Pen who threatens to remove France form the EU and Euro should she become the next President of France.
Gold held steady on Friday, with safe-haven demand remaining steady as investors kept an eye on events in France.
Speaking to CNBC OCBC analyst Barnabas Gan said: "I would expect investors to stay on the fence... they would likely be market-watching rather than market-trading ahead of the French elections on Sunday, especially when there is no clarity,"
"Into the near term, if the geopolitical tensions intensify, there is a chance that gold prices will reach $1,300 or more."