Investing.com - Gold prices were sharply lower during North American hours on Monday, as demand for safe-haven assets ebbed after the FBI said no new evidence was found to warrant charges against Hillary Clinton in the investigation of her emails just two days before the U.S. election.
The news lifted a cloud over Clinton's presidential campaign and possibly blunted momentum for rival Donald Trump.
Markets have tended to see Clinton as the status quo candidate, and news favoring her bid often boosts risk appetite, while weighing on assets perceived as safe.
Gold for December delivery on the Comex division of the New York Mercantile Exchange was down $17.35, or 1.33%, to $1,287.15 a troy ounce by 8:10AM ET (13:10GMT) after sinking to $1,284.00 in early trade.
Prices rallied to a more than one-month high of $1,309.30 last week, as polls showed a tightening U.S. presidential race.
Meanwhile, markets are also expecting a Federal Reserve rate hike next month after a government report on Friday showed solid jobs gains and a rise in wages in October.
Investors were pricing in around a 77% chance of a rate increase in December, according to Investing.com's Fed Rate Monitor Tool.
Also on the Comex, silver futures for December delivery shed 18.3 cents, or 1%, to $18.18 a troy ounce during morning hours in New York, while copper futures rallied 2.9 cents, or 1.28%, to $2.294 a pound, the most since March 18.
Copper futures have been well-supported in recent sessions as traders bet that the global economy may be gaining momentum after a long period of sluggish growth.