Gold Prices See Mixed Trend
Gold prices were mixed on Wednesday and the dollar edged higher after U.S. President Donald Trump tweeted that he had decided to halt stimulus talks until after the Presidential election.
Spot gold rose half a percent to $1,888.14 per ounce, while U.S. gold futures were down about 1 percent at $1,890.50.
While Trump’s surprising announcement dented hopes of a quick economic recovery, markets are taking some comfort from new poll numbers showing Democratic nominee Joe Biden’s widening lead over President Trump as well as Trump’s tweets seeming to promise backing for individual pieces of fiscal stimulus.
In addition, investors are pinning hopes that whoever wins the November 3 presidential election will still introduce a fiscal stimulus bill.
A handful of national and state polls showed that former Vice President Joe Biden’s margin of support is growing into the double digits.