Gold within a whisker of $US1,900/oz as America goes to the polls

US president Donald Trump gets into the groove at a campaign rally. Image: Getty share

Delayed or uncertain US election outcome could play into gold prices

‘Gold has unwound its oversold position of late last week’

ASX Gold stocks guide : Everything you need to know Gold’s price moved closer to $US1,900 per ounce in Tuesday trade as the US presidential election cast a long shadow over the market and its near-term direction.In early trade, gold touched $US1,895/oz ($2,685/oz), nearly matching its August 2011 high, but off from its all-time high of $US2,070/oz in early August, according to Kitco data.“Gold has unwound its oversold position of late last week and is moving up to test dual resistance at $US1,900 [per ounce] from the 10-day and 20-day moving averages,” Rhona O’Connell, head of market analysis at StoneX Group told Kitco .“As uncertainty fades going forward, we expect that investment demand […]

Click here to view original web page at stockhead.com.au

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.