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Nothing says “markets are relieved” quite like a drop in the price of gold, does it?

The yellow metal dropped as much as 1.5 per cent in early Asia trade on Monday after the first round of France’s presidential election appeared to put Emmanuel Macron on track for a head-to-head battle with far-right candidate Marine Le Pen – a contest polls suggest he is likely to win.

Gold is currently trading 0.9 per cent softer at $1,273.27 per ounce.

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