Gold gained some support at the start of European session trading but remained under pressure as the US dollar continued to maintain its strengthening momentum ahead of tomorrow's US presidential election.
The gold spot traded hovering around the price level of $ 1,884 per ounce, while gold futures were stable at $ 1,885 per ounce (4.05pm Malaysian time).
With only one day left before the presidential election, Democratic candidate Joe Biden remains ahead of Donald Trump in some recent polls.
Survey results by The New York Times and Siena College show Biden leads the polls in Pennsylvania, Florida, Arizona and Wisconsin, holding a 52% majority while Trump 41%.
However, investors should not rely on clues from survey results simply because the opposite can happen.
Meanwhile, analysts from the Royal Bank of Canada are advising investors to be prepared for uncertainty in the US election and trading in precious metals may gain support from post-election chaos.
If Biden wins, the direction towards a massive stimulus package to support the economy may be clearer, but if otherwise, the United States will have to wait until next year for aid to be launched.
