Gold firms as Joe Biden edges closer to US election winbusinessUpdated: Nov 05, 2020, 12:02 ISTGold firmed on Thursday as investors were cautiously optimistic Democrat Joe Biden would edge past President Donald Trump in a tight race to the White House, boosting the likelihood of more economic stimulus. Spot gold rose 0.2% to $1,906.74 per ounce by 0338 GMT. US gold futures rose 0.7% to $1,909.00 per ounce. Biden said on Wednesday he was headed toward a victory after claiming key Midwestern states of Wisconsin and Michigan. “Gold traders are not excited about this outcome,” DailyFx’s Yang said, noting a contested result could mean a smaller fiscal stimulus plan.

Source: Hindustan Times November 05, 2020 04:25 UTC