Gold prices rose in a limited range Thursday (November 5th), as investors expressed cautious optimism about Democratic candidate Joe Biden’s victory over his rival, President Donald Trump, in the close-range US presidential elections.<\/p>\n\n\n\n
Analysts expect Biden to likely take greater stimulus measures than his rival, the Republican president, although the likelihood of a Congressional split between Democrats and Republicans could undermine Biden’s fiscal policy efforts.<\/p>\n\n\n\n
Gold is benefiting from widespread stimulus measures given that it is widely seen as a hedge against inflation and the currency’s decline. By 06:00 GMT, spot gold rose 0.3% to $ 1909.41 an ounce.<\/p>\n\n\n\n
Gold in US futures rose 0.7% to $ 1909.80.<\/p>\n\n\n\n
On Wednesday, Biden expected victory in the elections after winning in critical states, while Trump spoke of allegations of fraud, filed lawsuits and demanded a recount.<\/p>\n\n\n\n
At the same time, the dollar retreated after strong gains in the previous session, making the precious metal less expensive for holders of other currencies.<\/p>\n\n\n\n
As for the other precious metals, silver rose 1.4% to $ 24.23 an ounce. Platinum rose 0.6% to $ 874.98 an ounce. Palladium rose 0.6% to $ 2,302.67 an ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices rose in a limited range Thursday (November 5th), as investors expressed cautious optimism about Democratic candidate Joe Biden’s victory over his rival, President Donald Trump, in the close-range US presidential elections. Analysts expect Biden to likely take greater stimulus measures than his rival, the Republican president, although the likelihood of a Congressional split …<\/p>\n","protected":false},"author":9,"featured_media":31385,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6874],"class_list":["post-36619","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-gold"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/36619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=36619"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/36619\/revisions"}],"predecessor-version":[{"id":36620,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/36619\/revisions\/36620"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31385"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=36619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=36619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=36619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}