Gold awaits US election results

The price of gold on Friday is growing moderately against the background of market participants' expectations of the final results of the US elections. Analysts say the precious metal could post its best week in more than three months amid a weak dollar and additional stimulus stakes amid pandemic-driven uncertainty.

The current quotation for gold is $1,950.70 per troy ounce. The dollar is holding near a two-month low, which has made gold more attractive to holders of other currencies. Palladium rose to $2.449 an ounce, silver to $25.59 an ounce. The platinum price has increased to $906.

The experts note that regardless of the election results, monetary policy in the United States is likely to remain accommodative, as economic activity remains weak due to the growing number of COVID-19 cases. The prospects for Donald Trump's re-election are becoming increasingly dim, as vote counts in several key states indicate a likely victory for Joe Biden.