Gold Spikes, Stocks Sink as FBI Re-Opens Clinton Email Investigation

FBI Director James Comey said Friday the bureau is reviewing new emails related to Hillary Clinton’s time as secretary of state, according to a letter sent to eight congressional committee chairmen, a surprise development with 11 days until the election.

The surprising news jolts a presidential race that had largely settled as Republican presidential nominee struggled in national and key battleground polls. Now, Clinton will be placed back on the defensive and forced to confront yet again questions about her trustworthiness.

Jason Chaffetz tweeted that the FBI’s probe into Hillary Clinton emails has been reopened: saying that “The FBI has learned of the existence of emails that appear to be pertinent to the investigation.”

Websites that place odds on which candidate will win the election have shown Clinton’s odds drop and Trump’s odds spike following the news. Trump is still considered a long-shot to win the Presidency, but this news has certainly increased his chances.

The news that the FBI is re-opening the investigation caused stocks to erase all gains on the day, crashing from a gain of 0.5% to a loss of 0.5%.

The news also caused the USD to drop sharply and both gold and silver to spike higher.

Mining stocks are also spiking higher this morning, reversing a morning decline into a 2% gain so far. After nearly 3 months of correction and consolidation, this could be the spark that starts the next bull cycle advance for mining stocks. Several of the junior mining stocks that we track are now up more than 5% on the day. I will be watching for volume and follow through momentum to determine if we should add new positions to the Gold Stock Bull portfolio today or early next week. Sign up here to view our top stock gold and silver picks, plus get the monthly newsletter and receive trade alerts.