Gold is rising as the dollar’s rally stalled amid uncertainty ahead of the US elections

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Gold rose today, Thursday, after a sharp decline in the previous session, as the cessation of the dollar’s rally fueled purchases in the metal in search of a safe haven in light of the increasing cases of Corona virus and ahead of the US elections.

The spot price of gold was up 0.1 percent to 1879.71 dollars an ounce, while some investors took advantage of the decline on Wednesday to the lowest price in a month to buy the metal. US gold futures advanced 0.1 percent to $ 1880.10.
Vandana Bharti, associate vice president of commodity research at CMC Comtrade, said the US election and predicted that the dollar index would stop rising, boosted gold.
She added, “In giant economies such as France and Germany, the number of Covid-19 cases is increasing, and they tend to impose closures again. So in this situation, some buying occurs in gold in search of a safe haven.”
Silver fell 0.6 percent to $ 23.28 an ounce, while platinum rose 0.3 percent to $ 870.02. Palladium rose 0.5 percent to $ 2,247.76 an ounce.

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