Gold-priced metal trading stabilized at the start of the European market session as all the focus was now on US election results with President Donald Trump now closely following Joe Biden in a national poll.
The gold spot traded steady at $ 1,892 per ounce following the decline in the US dollar that began to show up ahead of the election. Meanwhile, gold futures changed slightly to $ 1,893 per ounce (4.15pm Malaysian time).
As the market enters polling day, investors are seen starting to get gold as protection against the shackles of uncertainty.
The market is also considering some possibilities that will arise if one of them wins the election this time.
If Democrat candidate Joe Biden wins, with the big stimulus measures launched it will likely help increase the value of gold following the weakness of the US dollar.
Meanwhile, Donald Trump, who was previously far behind Joe Biden, is now reportedly following his rivals closely in the latest poll of the country's polls.
Trump had previously stated that he would refuse to accept the results of the vote if he lost. This uncertainty arises indirectly driving investors to hedge assets.
