Gold prices traded steady, remaining above $ 1,900 an ounce amid uncertainty over US elections and the rising Covid-19 cases, particularly in Europe and the United States.
At the opening of the European market session, the precious metal traded slightly up at $ 1,909 per ounce, while gold futures traded at $ 1,911 per ounce (2.30pm Malaysian time).
The surge in Covid-19 cases in Europe has prompted some countries to take action to curb the spread by announcing more new sanctions.
French President Emmanuel Macron is expected to announce a one-month closure nationwide tonight, which will certainly raise concerns over the prospects for a European and global economic recovery.
While the gold safe-haven benefited from this situation, uncertainty plaguing the market ahead of the US presidential election has limited the movement of the precious metal to rise higher.
Meanwhile, hopes for a US fiscal stimulus package are fading after President Donald Trump acknowledged that an agreement on this aid is likely to take place after the presidential election.
