Reuters, via CNBC/Maytaal Angel/04-24-17
Gold fell more than 1 percent on Monday, marking its biggest tumble in more than a month, after the market’s favored candidate won the first round of the French election, easing worries over a political shock in the second round. Centrist Emmanuel Macron took a big step towards the French presidency on Sunday by winning the first round of voting, with the latest opinion polls showing him as strong favorite to beat far-right candidate Marine Le Pen in the final vote.
The news represented a huge defeat for anti-European Union forces on the right and left of French politics. It also sent European shares vaulting higher, boosted the euro by as much as 2 percent at one point and sparked a sell-off in safe-haven bullion.
