Investing.com - Gold prices soared nearly 5% during European hours on Tuesday, as Donald Trump shocked financial markets by winning the U.S. presidential election.
Gold for December delivery on the Comex division of the New York Mercantile Exchange jumped $41.00, or 3.22%, to $1,315.75 a troy ounce by 2:50AM ET (07:50GMT), after rising by as much as 4.7% to $1,338.30 earlier, the most since September 26.
Also on the Comex, silver futures for December delivery rose 38.4 cents, or 2.14%, to $18.76 a troy ounce during morning hours in London, while copper futures rallied 4.5 cents, or 1.81%, to $2.423 a pound, a level not seen since October 2015.
Republican candidate Donald Trump has been elected 45th president of the United States on Wednesday, shattering expectations for a victory by Democrat Hillary Clinton.
CNN and NBC reported that Clinton called Trump to concede the presidency.
Trump clinched victories in the key battleground states of Florida, North Carolina and Ohio.
Republicans were expected to remain in control of the U.S. House of Representatives, and were also on track to defend their Senate majority, although the Senate majority narrowed.
Global stock markets crashed on the news, the U.S. dollar tumbled over 1% to a one-month low against the other major currencies, while the Mexican peso plummeted to record lows, with MXN/USD down more than 8%.