Gold futures headed for the lowest closing price in 10 months as investors shrugged off political turmoil in Italy to boost equities and other riskier assets. The S&P 500 advanced and Treasury yields climbed after Italy’s vote against constitutional reform, which prompted the country’s prime minister to resign. While the referendum has raised concerns over Italy’s future in the euro region, the nation’s political and legal system means the “no” vote is unlikely to trigger a quick exit, sapping demand for safety.
https://www.bloomberg.com/news/articles/2016-12-04/gold-set-for-first-back-to-back-gain-in-month-as-italy-votes-no
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