Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) The gold market is reaping the benefits of a lower U.S. dollar in an uncertain environment, where markets are betting on a Biden win.
The precious metal began its rally Thursday with prices rising more than $50 amid uncertainty and weaker U.S. dollar as Democratic candidate Joe Biden maintained his lead against U.S. President Donald Trump.
Based on the latest Electoral College count, Biden has 264 votes versus Trump’s 214. Ballots from swing states, such as Nevada, Georgia, and Pennsylvania, are still being counted as of Friday afternoon.
At the time of writing, December Comex gold futures were trading at $1,954.80, up 0.41% on the day, seeing their best weekly gains since late-July."Gold has been really following the dollar, the […]
November 7, 2020 (updated November 7, 2020) Published by StockMan