Gold Price Analysis: XAU/USD teases bulls above $1,900 as Biden nears US election win

Gold buyers eye breaking the monotony around $1,900 while extending recent pullback from $1,893.

Joe Biden wins Michigan, has 264 votes versus 270 required.

Ballot counting in Pennsylvania gains major attention, BOE and FOMC are additional catalysts worth watching.

Gold prices fade the recent uptick to $1,906 while easing to $1,904.50 during the pre-Tokyo open trading on Thursday. The yellow metal refreshed the two-week high the previous day but had to end the day with negligible losses as US election updates dim odds of the blue wave. However, the latest rise in the bullion could be attributed to the risk-positive news suggesting the Democratic candidate Joe Biden’s victory in Michigan.Having secured a lead in Michigan, Biden has 264 electoral votes in his pocket versus nearly 215 counts by the current President Donald Trump. However, the key state Pennsylvania is yet to roll out the counts amid […]

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