Gold price teeters and totters ahead of US presidential election

Gold price teeters and totters ahead of US presidential election

Gold prices have stalled after their recent advance: Pic: Kelly’s Heroes with Clint Eastwood share

US election uncertainty saps momentum from gold market

‘Gold price action has stalled’ despite polls showing a lead for Joe Biden

ASX gold stocks guide : Everything you need to know The price of gold was hovering around $US1,900 per ounce ($2,665/oz) Tuesday as investor nervousness around the outcome of the November 3 US presidential election took some momentum out of the market.“Even though polls continue to indicate a Biden victory and a Democratic Senate, gold price action has stalled, despite this election scenario posing the greatest upside risk for the metal,” Standard Chartered precious metals analyst Suki Cooper told Kitco news.Several drivers of recent record gold prices – negative real interest rates, expectations of a weaker US dollar and governmental economic stimulus spending – continue to support higher gold prices, Cooper added.Physical gold […]

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