Gold Prices Hold Steady, Track Dollar As US Election Caution Kicks In

Gold Prices Hold Steady, Track Dollar As US Election Caution Kicks In

The World Gold Council expects gold demand to improve into year-end in India Gold steadied in a tight range on Thursday after falling 2 per cent the previous day as caution crept in ahead of the US elections, with bullion also contending with the dollar as a refuge for investors hedging risks from mounting COVID-19 cases.

Spot gold was flat at $1,877.01 per ounce by 1028 GMT (3.58 pm in India). US gold futures slipped 0.1 per cent to $1,877.60.

"No one really wants to take any aggressive positions ahead of the election," said StoneX analyst Rhona O’Connell.

"Prior to that, there’s the stimulus talk, and obviously we’ve got the pandemic running in the background, but it’s all been centred on Washington over the last three, four weeks or so, and I very much doubt you’d get any volatility until after the election."Ahead of the November 3 election, Democratic challenger Joe Biden […]

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.

Posting Guidelines
  • 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 take our Terms of Use seriously
Do Not
  • 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

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet