PRECIOUS-Gold pares losses as dollar steadies in tight U.S. election race

PRECIOUS-Gold pares losses as dollar steadies in tight U.S. election race

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* Graphic: Global markets since Trump’s election in 2016 (New throughout, adds comments, updates prices)Nov 4 (Reuters) – Gold pared losses after sliding over 1% on Wednesday as the dollar steadied and expectations that Democrat Joe Biden could win the American presidential election bolstered hopes for a larger U.S. stimulus.Spot gold had inched down 0.1% to $1,906.80 per ounce by 9:28 a.m. EST (1428 GMT). U.S. gold futures were flat at $1,909.70.“As this election process is starting to drag down, we’re starting to see that there is a slight edge to a Biden victory outcome and that’s why we saw the dollar paring its gains,” said Edward Moya, senior market analyst at OANDA.Biden is expected to inject large amounts of stimulus to ease the […]

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