The U.S. presidential election caused gold prices to rise by 0.89%
On Tuesday (November 3), spot gold rose slightly by 0.11%, and overnight gold rose by 0.89%, the largest increase in 8 trading days. Due to the uncertainty of the outcome of the US presidential election, new crowns were added globally. The sharp increase in the number of cases has aggravated people’s worries about economic recovery, which may further enhance the attractiveness of safe-haven gold; the dollar fell after reaching its highest in a month, and investors chose to remain cautious before the US election. In addition, the Federal Reserve will announce interest rate resolutions this week, which will also have a certain impact on the long-term trend of gold.
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