Gold steady as investors eye U.S election outcome

Gold bullion bars are pictured after being inspected and polished at the ABC Refinery in Sydney on August 5, 2020.

DAVID GRAY | AFP | Getty Images

Gold prices were little changed on Thursday after early U.S. election results suggested a lead for Democrat contender Joe Biden , even as the possibility of a contested result remained. Fundamentals

Spot gold was little changed at $1,904.66 per ounce by 0111 GMT.U.S. gold futures rose 0.5% to $1,905.50 per ounce.Biden said on Wednesday he was headed toward a victory over President Donald Trump in the U.S. election after claiming the pivotal Midwestern states of Wisconsin and Michigan.But Trump moved to file lawsuits and request for a recount in votes in several battleground states, amounting to a broad effort to contest the results of the election.Investors increasingly expect the Republican and Democratic parties to retain their respective control of the Senate and the House […]

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