Gold steady as coronavirus, U.S. elections uncertainty loom

An Argor-Heraeus SA branded two hundred and fifty gram gold bar, center, sits in this arranged photograph at Solar Capital Gold Zrt. in Budapest, Hungary.

Akos Stiller | Bloomberg | Getty Images

Gold prices were little changed on Wednesday, staying above the $1,900-mark, as uncertainties about U.S. elections and surging global Covid-19 cases countered pressure from a firmer dollar and fading hopes of an immediate U.S. stimulus package.

Spot gold was steady as $1,906.15 per ounce by 0329 GMT. U.S. gold futures were down 0.3% at $1,907.10.“Investors need a reason to buy more gold and the reason to buy gold will come from a policy signal,” said Stephen Innes, chief global market strategist at Axi.“With the virus raging all over, we are going to get stimulus at some point … This is also probably leaning towards more central bank intervention because the economic hit is going to be quite significant,” he […]

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