Gold futures are trading lower on Wednesday at dead center of the session’s wide range as traders continued to assess the impact of the current stalemate in the U.S. presidential election.
After an early session plunge in prices, gold spent most of the regular session clawing back those earlier losses on the hope that a Joe Biden victory would lead to massive amounts of new fiscal stimulus. But those dreams may have died after election results showed the Republicans would retain control of the Senate, which would make it difficult to pass a huge coronavirus stimulus package.
At 19:44 GMT, December Comex gold futures are trading $1897.90, down $12.50 or -0.65%.
Although Joe Biden is tipped to win the election, the Democrats appeared to be falling short in their attempts to take control of the U.S. Senate. Gold was underpinned by this news and weakness in the U.S. Dollar, which gave up […]
Click here to view original web page at www.fxempire.com
- Do contribute something to the discussion
- Do post factual information, analysis and your view on company valuations
- Do disclose if you have an interest in a security
- Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
- Do not complain about a post unless you have reported it first, and not on the forum.
- Do not post financial advice
- Do not advertise or post sponsored content
Come and join our community. Expand your network and get to know new people!