Gold prices had the worst decline in seven weeks following early estimates that political novice Emmanuel Macron and far-right populist Marine Le Pen are headed for a run-off after the first round France Presidential elections. The results were well received by Wall Street as risk assets surged. The euro rallied over a percent and so did the major US indexes. The worst case scenario of match between Le Pen and communist-back Jean Luc Melenchon was avoided. The runoff election will now take place on May 7th.