Gold Wins as Focus Returns to The Pandemic And US Elections

Gold rose on Wednesday as uncertainties about the global economic recovery and the presidential elections in the United States encouraged investors to exploit and buy a sharp decline in the precious metal in the previous session.

Spot gold rose 0.3% to 1895.84 dollars an ounce, after it fell 1.9% on Tuesday due to a jump in the dollar. And US gold futures gained 0.3% to $ 1,899.70.

The risk appetite was hit by news of a halt in major trials for a COVID-19 vaccine, as well as stalemate in stimulus talks in the United States, which supported the dollar and curbed gains for the precious metal.

As for other precious metals, silver fell 0.1% to $ 24.14, while platinum rose 1.1% to $ 874.06, and palladium’s profit rose 1.6% to $ 2,351.95.