Gold (XAU/USD) Analysis, Price and Chart
With just a few days to go before the 59th US presidential election on November 3, incumbent Donald Trump is said to be trailing the Democratic candidate Joe Biden in the polls, and in the all-important state of Florida. Bookmaker Paddy Power has Biden at 2/5 to win the election while Trump is available at a much more generous 15/8. The final couple of days before the vote, and the days after it, will likely be highly charged and this volatility will reach across all financial markets. Gold will remain under the spell of the US dollar, and safe-haven flows, and will likely see choppy trading conditions as markets gyrate between risk-on and risk-off.
The price of gold has dipped recently alongside a small pick-up in US real yields. At the start of the month, gold printed a high of $1,913/oz. while US real […]
November 1, 2020 (updated November 1, 2020) Published by StockMan