Gold has best days in months, up almost 3%.
US dollar tumbles as Wall Street soars ahead of FOMC, NFP but looking at the election.
Boosted by a decline of the US dollar across the board, XAU/USD jumped to $1952, reaching the highest level since September 21. It then pulled back, and it is trading at $1945, up almost 3%, having the biggest daily gain in two months.
The US Dollar is falling sharply across the board, and particularly over the last hour against commodity currencies. At the same time, equity prices continue to rally in Wall Street. The Dow Jones is up by 1.95% and the Nasdaq by 2.30%. The DXY fell to test October lows at 92.45 and remain under pressure.Market participants await updates from the vote count in the US election. US President Trump said will legally challenge all recent states claimed by Biden. “All […]
November 6, 2020 (updated November 6, 2020) Published by StockMan