Gold price strong as Biden leads in US presidential election race

November 5, 2020

London (Nov 5)  Gold remains firm on Thursday as investors remain positive of Joe Biden winning the US presidential election.

Spot gold rose 0.3% to $1,909.41 per ounce by 600 GMT. US gold futures gained 0.7% to $1,909.80 per ounce.

Democrat Joe Biden win comes with the expectation of more stimulus injected into the economy.

Gold is commonly seen as a protection against inflation and currency debasement, therefore, it will most likely benefit from the stimulus measures.


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