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Gold grows weakly amid uncertainty around US elections


October, 20 2020
watermark Economic news

Gold prices rise slightly on Tuesday evening amid continued uncertainty around the upcoming US presidential elections. Uncertainty around the adoption of a new package of measures to support the US economy has an additional impact on the gold rate.


The price of December gold futures on the Comex New York Stock Exchange rose to $1,914.65 per troy ounce.


Investors continue to focus on two topics: the US presidential election and the adoption of a package of measures to support the economy. Investor sentiment on Tuesday is rather optimistic: US stock exchanges are growing, which slightly restrains the rise in gold prices.


The presidential elections in the country will be held on November 3. Investors await the final debate between President Donald Trump and his Democrat rival Joe Biden on Thursday.


Investors also drew attention to the statements of the Speaker of the US House of Representatives Nancy Pelosi that the White House must reach an agreement with the Democrats by the end of Tuesday if it wants to pass a bill on a new economic aid package before the elections.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.