Gold fades upside momentum following Friday’s pullback from mid-September high.
Expected struggle for Biden Presidency, virus woes probe market optimists.
A lack of major data/events adds to inactivity, risk catalysts keep the driver’s seat.
Gold prices seesaw around $1,951/52 during the initial hour of Monday’s Asian session. The yellow metal began the week’s trading near $1,953.50 while keeping the late Friday’s range between $1,950 and $1,955. The bullion’s recent inactivity could be traced to the uncertainty over the US polity as Donald Trump challenges Joe Biden’s victory in the latest elections. Also, the Republicans’ hold in the Senate offers additional troubles for the recently elected Democratic leader. Further, the coronavirus (COVID-19) and Brexit are additional hurdles for the precious metal buyers. Old risks join the new ones as US elections are over… Despite winning US presidential elections, Biden’s hardships aren’t over as Trump has already filed […]
November 9, 2020 (updated November 9, 2020) Published by StockMan