The price of gold would rally at least US$100-per oz overnight if Donald Trump were to become President of the United States, predicts John Ing, president and CEO of Maison Placements Canada. “There is no question in my mind that Mr. Trump would be an agent of change,” he says.

A Trump victory would blindside many investors who believe Democratic nominee Hillary Clinton will win the race for the White House, says Ing. The impact would be similar to the Brexit vote when global markets suffered their biggest one-day drop in more than 10 months as shock over the United Kingdom voters’ move to exit the European Union sent stocks into a tailspin, he says.

“The smart money is expecting a Clinton victory,” says Ing. “The smart money expected the U.K. to remain and of course that smart money looks pretty dumb.”

Gold has been tracking the U.S. presidential race lately.  The price of gold dropped 1 per cent to close at US$1,330.40 per oz. on Tuesday after many political observers slammed Trump’s poor performance in Monday’s highly-anticipated presidential debate. Gold prices had rallied earlier in the month as polls showed a tightening election race.

“It’s a very tight race,” says Ing. “A swing of one or two states and you could have Mr. Trump in the saddle.”

U.S. politics will likely continue to influence gold prices until the Nov. 8 election vote.