XAU/USD is rising for the third straight day on Tuesday.
Wall Street’s main indexes are posting impressive gains.
USD is struggling to find demand as focus shifts to US election.
The XAU/USD pair gained nearly 1% on Monday and has continued to push higher on Tuesday with the greenback facing a heavy selling pressure ahead of the US presidential election. As of writing, the pair was up 0.65% on a daily basis at $1,908.The risk-on market environment on Tuesday seems to be weighing on the USD more than it does on the precious metal. The US Dollar Index , which touched its best level in more than a month above 94 on Monday, was last seen losing 0.7% at 93.38.Reflecting the upbeat market mood, Wall Street’s main indexes are posting impressive gains on Tuesday. At the moment, the S&P 500 and the Dow Jones Industrial Average […]
November 4, 2020 Published by StockMan