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Gold is Rising Amid a State of Caution Ahead of The US Elections

Adel 2 November, 2020 5:01 pm Commodities, Market Update

Gold prices rose on Monday, November 2, as investors continued to worry about the US presidential elections and an increase in COVID-19 cases, as well as economic concerns exacerbated by renewed isolation measures in some countries.

Spot gold rose 0.5% to $ 1886.66 an ounce by 10:18 GMT, while US gold futures rose 0.4% to $ 1887.60.

Gold prices fell 1.2% last week. The dollar, which is usually considered a safe haven competing with gold, rose 0.1% against a basket of currencies.

Silver rose 1.2% to $ 23.92 an ounce, palladium rose 0.3% to $ 2217.74, and platinum rose 0.3% to $ 850.14.

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