Gold is retreating … and investors await the results of the US elections – Economy – Arab and International


Gold prices decreased today, as cautious investors awaited the outcome of the US elections.

And gold fell in the spot market 0.1% to 1892.73 dollars an ounce by 05.33 GMT.

There was little change in the price of the yellow metal in futures trading in the United States at $ 1893.20 an ounce.

“Morale is hanging on a hair at the moment … no one knows in which direction the elections are going and there are several possible results,” said OCBC economist Hui Li.

He added that there will be doubts about the fiscal stimulus as long as the Democrats do not achieve a sweeping victory, while if the results are inconclusive or questionable, this will be in favor of the dollar, and gold weakens.

Investors will also await the two-day meeting of the Federal Reserve’s Open Market Committee tomorrow, Wednesday.

Regarding other precious metals, silver increased 0.1% to $ 24.07 an ounce, platinum gained 0.2% to $ 860.46, and palladium rose 1.1% to $ 2235.88.

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