Gold Declining And Investors Await The Results of The US Elections

Gold prices fell on Tuesday, November 3, as cautious investors awaited the outcome of the US election, as Democratic candidate Joe Biden is a narrow lead in opinion polls over incumbent Donald Trump.

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.

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.