By Barani Krishnan Investing.com – Gold prices rose Friday, appearing poised to return to the key $1,900 level, as the safe haven crowd leveraged on uncertainty over next week’s U.S. election and that the winner will attempt to undertake a new major Covid-19 stimulus for the economy.
New York-traded gold for December delivery settled at $1,879.90, up $11.90, or 0.6% on the day. For the month, however, the benchmark U.S. gold contract was down 1.3%, accounting for losses occurring mostly in mid-October as a surge in risk appetite then had weighed on safe-havens.
Spot gold , which reflects real-time trades in bullion, was up $10.26, or 0.6%, at $1,878.12 by 4:00 PM ET (20:00 GMT).
“Haven buying is expected to increase in the coming days,” Jeffrey Halley, analyst for OANDA in New York, said, adding that gold could attempt to try and get over $1,900. “It should be enough to at […]
October 31, 2020 (updated October 31, 2020) Published by StockMan