Gold steady as market holds breath before tight US election
Gold was steady as the market braced for a tight US election, and a Federal Reserve rate decision later in the week.
Uncertainty around the presidential vote on Tuesday has aided bullion in the last few weeks. A victory for Donald Trump could push the precious metal up further, given he’s pledging a massive increase in trade tariffs that may fuel inflation. However, the closeness of the race means the final result may not be known for days.
Bullion has surged by around a third this year, and is about $50 an ounce below last week’s record high. It’s been supported by easier monetary policy, central-bank buying and heightened geopolitical tensions. The Fed is widely expected to cut rates by a quarter-point on Thursday, with many of its rich world peers also likely to lower borrowing costs.
Spot gold was steady at $2 736.61 an ounce as of 8:28 a.m. in Singapore. The Bloomberg Dollar Spot Index was little changed following a 0.4% drop on Monday. Silver, palladium and platinum all edged lower.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation