Oil, gold and copper fell as tight races in battleground states in the U.S. election shook traders’ initial faith in a decisive outcome, raising the prospect of a prolonged wait for the final result. Biden didn’t concede defeat and it looked likely that the final result would not be known for some time. “The consequence of a Trump victory could be that the fiscal packages come more quickly, but potentially be of a smaller amount." “Gold, metals and oil –- particularly oil and copper -– will be sensitive to those dollar movements." “Under Trump, there’s a bigger chance of oil prices rising," said Fereidun Fesharaki, chairman of industry consultant FGE.

Source: Mint November 04, 2020 07:52 UTC