Gold dips as investors await U.S. election outcome

A mark of 999.9 fine sits on hallmarked one kilogram gold bullion bars at the Valcambi SA precious metal refinery in Lugano, Switzerland, on April 24, 2018.

Stefan Wermuth | Bloomberg | Getty Images

Gold prices edged down on Tuesday, as cautious investors awaited the outcome of the U.S. presidential election with President Donald Trump closely trailing Democrat Joe Biden in national opinion polls.

Spot gold fell 0.1% to $1,892.73 per ounce by 0533 GMT.U.S. gold futures were little changed at $1,893.20 per ounce.“Sentiment is hanging by a thread at the moment … Everybody is quite unsure where the election is headed to, given the number of possible outcomes,” said Howie Lee, economist at OCBC Bank.As long as there isn’t a Democrat sweep, there will be questions on fiscal stimulus, while an uncertain or contested result will likely favor the dollar and weaken gold, he added.Election polls show Biden with an […]

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