Election 2020 LIVE UPDATES: Gold price sees post-election rally on weaker U.S. dollar
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November 6, 16:15
November 6, 15:00
AP EXPLAINS: Joe Biden has surpassed Donald Trump in Georgia, but his lead is very narrow. Under Georgia law, a candidate can request a recount if the margin is within 0.5 percentage points. What would a recount in Georgia look like? What happens next? https://t.co/HiP2kEb1Od— AP Politics (@AP_Politics) November 6, 2020
November 6, 10:42
According to Bloomberg, Georgia's Secretary of State said in a news conference that there will be a recount in votes. Early this morning the state flipped to favor Democratic nominee Joe Biden. He is currently leading the vote by a thousand votes.
November 6, 10:10
As of 10:00 am EST on Friday, November 6, betters have placed Donald Trump's odds of winning at 7%, according to data from Betfair. Betting odds give "at one point in time, an objective value of the probability of a candidate winning or losing, so it's just like the gold market," said Steve Hanke, professor of applied economics at Johns Hopkins University.
November 6, 9:45
The vote count continues and continues to favor Democratic nominee Joe Biden. He has taken the lead in Pennsylvania. Biden now lead is all must-win states for Republican nominee Donald Trump.
November 6, 7:33
Gold prices are holding on to Thursday's more than 2% gains as Democratic nominee Biden tightens his grip on the race to the White House. Although votes continue to be counted in critical states, Biden has taken a very narrow lead in Georgia.
However, voters will have to wait until at least noon ET to get more information out of Nevada, another critical state that Biden is leading in.
November 5, 19:13
"If you count the legal votes, I easily win," said President Trump in an evening address, where he dug in for a legal fight over the election. Trump also accused pollsters of getting results "knowingly wrong", which swayed the election. He said the vote will be contested and go through a "legal process."
November 5, 16:39
Joe Biden issued a short statement saying that he has "no doubt" that he will be declared the winner. Biden also upon everyone to "stay calm" as all the votes are being counted.
"We have no doubt that when the count is finished, Senator Harris and I will be declared the winners," Biden said.
November 5, 16:20
Gold is ending the day up nearly 3% on weaker U.S. dollar. Also, stocks continue their post-election rally, with the Dow closing 542.52 points higher.
November 5, 16:20
With odds now stacked heavily in Joe Biden's favor, it's now looking more likely that the next four years will see a Democratic president in the White House. E.B. Tucker, director of Metalla Royalty and "Why Gold? Why Now? The War Against Your Wealth and How to Win It" said that gold and gold royalty stocks still remain the ultimate weapons against the "war against wealth."
Tucker maintains $2,500 an ounce by the end of the year as his gold price target.
November 5, 15:32
2020 election update:— AP Politics (@AP_Politics) November 5, 2020
• Biden pushes closer to victory as Trump presses legal moves.
• Senate control still hangs in the balance.
• Two days after Election Day, protests across the U.S. are scattered.https://t.co/4GjesnA9Kb @here
November 5, 13:45
Chart-based buying, including buy stop orders being triggered in the futures markets, was also featured today in both precious metals. Some safe-haven demand in the metals is also seen as the U.S. presidential election result is still up in the air.
November 5, 13:43
Michigan judge rejects Trump’s effort to halt the vote count.
"As of this point, the essence of the count is completed," said Judge Cynthia Stephens of the Michigan Court of Claims.
November 5, 13:36
Georgia's Secretary of State Brad Raffensperger said there are around 50,000 ballots left to be counted.
November 5, 13:02
In a statement released through his campaign, U.S. President Donald Trump claims voter fraud:
"IF YOU COUNT THE LEGAL VOTES, I EASILY WIN THE ELECTION! IF YOU COUNT THE ILLEGAL AND LATE VOTES, THEY CAN STEAL THE ELECTION FROM US!"
November 5, 12:20
Nevada is starting to release voting information again, according to media reports. Fox News in Las Vegas has Biden up 1% against Trump. CNN is also reporting the same margin with Biden leading by 12,000 votes.
November 5, 12:14
U.S. President Donald Trump said he will challenge Joe Biden’s recent wins, saying there is "plenty of proof" of voter fraud.
All of the recent Biden claimed States will be legally challenged by us for Voter Fraud and State Election Fraud. Plenty of proof - just check out the Media. WE WILL WIN! America First!— Donald J. Trump (@realDonaldTrump) November 5, 2020
November 5, 12:08
Gold price is up more than $50 on the day as markets look past litigation threats and focus on the weaker U.S. dollar, according to TD Securities.
"Precious metals rebound, looking past near-term implications for real rates and towards a weakening dollar. Thus far, the market is looking past litigation threats," TD Securities strategists said on Thursday. "While a Republican senate is interpreted as implying a smaller fiscal package and potential gridlock during the lame-duck session, a Biden presidency has done more to reduce the geopolitical premium, resulting in a weaker USD, which in turn is supporting gold prices."
Democratic candidate Joe Biden continues to lead in the polls, with more clarity expected Thursday afternoon. The Electoral College count currently has Biden with 264 votes and Trump with 214.
States that are yet to be called are Arizona, Georgia, Nevada, Pennsylvania, North Carolina, and Alaska.
November 5, 11:18
Gold prices have powered to a six-week high in late-morning trading Thursday. Chart-based buying has combined with a slumping USDX to push the yellow metal sharply up. Dec. gold last up $54.90 at $1,951.20.
November 5, 10:51
Gold price is up more than 2.5% on the day as markets are getting comfortable with the idea of President Joe Biden as he leads in Electoral College count with 264 votes versus Trump’s 214.
In a telephone interview with Kitco News, Greg Harmon, founder of Dragonfly Capital, said that the election results are helping the gold market shake off some of its initial inertia.
His comments come as gold prices trade at their highest level in roughly two weeks. December gold futures last traded at $1,946.80, up more than 2.5% on the day.
"Even if you have a split Congress, with Biden as president, you have nudged the stimulus needle a little bit more," Harmon said. "A Biden victory should be negative for the dollar, and that should be positive for gold."
November 5, 10:37
BREAKING: The #gold market is seeing solid gains Thursday and continues to benefit from a falling U.S. #dollar. December gold futures are at $1,946.20 an ounce, up 2.64% on the day #kitconews #Election2020 pic.twitter.com/6d9eUPAePm— Kitco NEWS (@KitcoNewsNOW) November 5, 2020
November 5, 10:10
U.S. stocks are also continuing their rally. The Dow is up more than 480 points and the Nasdaq is up more than 300 points.
November 5, 9:58
Gold and silver futures prices are sharply up in early U.S. trading Thursday, boosted in part by a falling U.S. dollar index in the wake of the U.S. elections. Some safe-haven demand in the metals is also seen as the U.S. presidential election result is still up in the air. December gold futures were last up $37.70 at $1,933.90 and December Comex silver was last up $1.142 at $25.035 an ounce. The U.S. dollar index was last at 92.64, down 0.89% on the day.
November 5, 9:00
It's Thursday and the result to the US election still hangs in the balance. CNN is yet to call six states:— CNN (@CNN) November 5, 2020
• North Carolina
Live updates: https://t.co/wjVD5pcQ6g
November 4, 16:43
ABC News announced that Joe Biden will win the state of Michigan and its 16 electoral votes.
November 4, 16:09
Stocks continue to rally as markets await for all the ballots to be counted. S&P 500 is up more than 2%, the Dow is up 1.34% and the Nasdaq is up 3.85% on Wednesday afternoon. Gold prices, on the other hand, remain around the $1,900 an ounce level, with December Comex gold futures last trading at $1,904.50, down 0.31% on the day.
November 4, 15:26
Trump's campaign has filed a lawsuit in Michigan to stop the counting of the ballots until it is granted a “meaningful access” to observe, Reuters reported.
“We have filed suit today in the Michigan Court of Claims to halt counting until meaningful access has been granted. We also demand to review those ballots which were opened and counted while we did not have meaningful access,” the campaign said in a statement.
Biden is currently leading the race in Michigan by a razor-thin margin, with 92% of the votes counted so far.
November 4, 14:40
Updated electoral college vote count from AP: Biden - 248, Trump - 214.
November 4, 14:40
Gold and silver futures prices are lower in midday U.S. trading Wednesday. Big, post-U.S. election rallies in U.S. stock indexes and less risk aversion at mid-week have put the brakes on this week’s rallies in the two precious metals. December gold futures were last down $12.90 at $1,897.50 and December Comex silver was last down $0.409 at $23.92 an ounce.
November 4, 14:34
November 4, 14:37
Michigan still has 100,000 ballots left to be counted with results expected by Wednesday night, Michigan Secretary of State Jocelyn Benson told journalists. “I’m optimistic that by the end of the day, the majority of our ballots will be tabulated.”
November 4, 14:32
Trump currently leads in Pennsylvania with 80% of ballots counted. Trump has 53.4% of the votes, while Biden is slightly behind with 45.3% of the vote, Reuters reported, citing Edison Research.
November 4, 14:00
A counting error in Arizona is putting that state back in play and its 11 Electoral College votes. According to Media reports, a data error, identified by the New York Times, made it look like a higher percentage of votes in Arizona had been counted. The counting error said 98T of the vote had been counted, when the reality was much closer to 86%. Fox News was one of the first news outlets to call Arizona Tuesday night, giving the Democratic Party hope that its nominee Joe Biden had a path to the White House.
November 4, 13:45
Republican Party continues to maintain its grip on the Senate as Susan Collins said that her opponent Sara Gideon has conceded the Maine Senate race. Collins had been considered one of the most vulnerable incumbent GOP senators this year
November 4, 13:41
According to media reports, Wisconsin's election commissioner has declared Democratic nominee Joe Biden the winner in that state's presidential race. President Donald Trump's team is also wasting no time in requesting a recount.
"Despite ridiculous public polling used as a voter suppression tactic, Wisconsin has been a razor thin race as we always knew that it would be," said Trump 2020 campaign manager Bill Stepien in a statement. "There have been reports of irregularities in several Wisconsin counties which raise serious doubts about the validity of the results. The President is well within the threshold to request a recount and we will immediately do so."
Wisconsin's Election Commission announced Wednesday it was triple-checking vote counts, but all municipalities have submitted their results.
Nearly 3.3 million votes were counted from across the state. Biden leads the tally by 20,697 votes, which Trump won in 2016.
"All of the ballots have indeed been counted," Wisconsin Election Commission Administrator Meagan Wolfe said in an interview with NBC News Wednesday. "We're not seeing that there's any counties that haven't posted their results on their websites."
November 4, 11:47
BREAKING Wisconsin Elections Commission Administrator says on @NBCNews: "All of the ballots have been counted." Joe Biden has won Wisconsin by 20,697 votes.— Chris D. Jackson (@ChrisDJackson) November 4, 2020
November 4, 11:45
Although election results are still be tabulated, the partisan sentiment surrounding potential stimulus measures has dropped significantly. According to Reuters, Republican Senate leader Mitch McConnell, who was reelected Tuesday, said that he would like to see a stimulus bill passed before December. He added that the aid could target state and local governments, which has been a critical focus for Democrats.
November 4, 11:28
With the Republicans set to take the Senate and the Democrats already having the House, Matt Gertken, vice president of Geopolitical Strategy, BCA Research anticipates a divided government that is likely to result in no tax increases but potentially smaller, and delayed fiscal stimulus.
The odds swung in Biden's favor this morning as the Vice President took the lead in Wisconsin and Michigan. Gertken said there is a chance that should Trump lose, he would try to contest the results, adding uncertainty to the marketplace.
November 4, 10:52
BREAKING: #Gold falls to moderately lower price levels as U.S. stock market rallies while the marketplace awaits more details on U.S. presidential election outcome. Dec. gold down $5.80 at $1,904.30 #kitconews pic.twitter.com/vgQRrw0jIu— Kitco NEWS (@KitcoNewsNOW) November 4, 2020
November 4, 10:37
Gold is back to trading flat on the day after falling below $1,900 an ounce level. Stocks continue to rally with the Dow rising nearly 500 points Tuesday morning amid election uncertainty. December Comex gold futures are trading at $1,906.60, down 0.20% on the day.
November 4, 10:37
Jen O'Malley Dillon, Joe Biden’s campaign manager said Biden is on track to be the next president of the U.S. However, even though Biden is leading in three critical states, there are still a lot of votes to be counted. Nevada said that it won’t release any new election data until Thursday morning, which means at least one more day before some definitive results.
November 4, 10:30
Last night I was leading, often solidly, in many key States, in almost all instances Democrat run & controlled. Then, one by one, they started to magically disappear as surprise ballot dumps were counted. VERY STRANGE, and the "pollsters" got it completely & historically wrong!— Donald J. Trump (@realDonaldTrump) November 4, 2020
November 4, 9:45
Stocks open higher Wednesday morning with S&P 500 up 1.5%. the Nasdaq up 2.44% and the Dow up 0.76%. The U.S. dollar index is slightly higher this morning, last trading at 93.63, up 0.32% on the day. In response, gold has turned lower, with December Comex gold futures last trading at $1,899.80, down 0.55% on the day.
November 4, 9:16
A blue shift in Michigan has greatly changed the odds of a Biden victory dramatically. According to some reports, Biden now has a 77% chance of becoming president. This race is going to come down to a photo finish.
Vegas betting odds have Biden with a 79.9% chance! He still would have regulatory power with the stroke of a pen. So the stock market is rallying on what may be kindly described as alternative facts. Nothing here is that bullish. A Red Senate means no help where it counts.— David Rosenberg (@EconguyRosie) November 4, 2020
November 4, 9:04
The presidential vote count continues to tighten. AP is reporting that Michigan has flipped with Biden now taking the lead in the state. The Democrat nominee is also leading in Nevada and Wisconsin. These three states would give Biden the magic 270 target.
November 4, 8:49
There are still millions of votes to be counted; however, the discussion is now focusing on what kind of stimulus the U.S. economy will see as Congress remains split. Economists at CIBC said that they see the U.S. government passing a $1 trillion aid package by December. "Given that the election is now behind us, there might be less reluctance to block a stimulus bill from coming to the Senate floor for a vote. That could pave the way for a $1-1.5 bn package as early as December," the analysts said in a note Wednesday. A new aid bill could be expedited if the U.S. labor market starts to lose momentum.
November 4, 7:48
This is how close the race to the White House is. According to the New York Times Trump leads Pennsylvania by 700,000 votes. However, there are 1.4 million absentee votes that still need to be counted. According to the report absentee voting highly favors Biden.
November 4, 7:30
A prolonged election count and the threat of a legal battle is providing some support for gold prices. December gold futures last traded at $1,911.10 an ounce, relatively unchanged on the day.
November 4, 7:30
Trump Leads Biden 49.4% - 48.9% in Michigan With 89% Of The Vote Counted
November 4, 7:22
Election night as come and gone and no winner has been declared and gold investors can expect a prolonged vote count. According to the New York Times, Nevada election officials said that they won't be releasing any updated results until Thursday morning. The latest information shows that Biden is leading in the state by 1 point.
November 4, 6:22
Wisconsin looks too close to call at the moment and some media outlets are saying it could take a few days to find out the true result. Spot gold is currently trading 0.91% lower at $1891.70 per ounce and the major indices have pulled back somewhat after some strength earlier on. EUR/USD has continued to strengthen since the EU open and now traded just under the 1.17 handle.
November 4, 2:40
"Frankly, we have already won this," said Trump in an a statement in front of supporters after Biden's announcement. "We want all the voting to stop," said Trump who added that he will be going to the Supreme Court to stop vote counting. He said current actions are an effort to steal the election. Vice President was more circumspect saying they were on the road to victory.
November 4, 00:56
Biden gives live remarks to supporters and says election is "...not over until every ballot is counted, but we're feeling good about where we are." Trump pushes back and said he will be making his own statement.
We are up BIG, but they are trying to STEAL the Election. We will never let them do it. Votes cannot be cast after the Polls are closed!— Donald J. Trump (@realDonaldTrump) November 4, 2020
November 4, 00:44
President Donald Trump has won Florida, AP reports, which makes this already too-close-to-call presidential race even tighter. Latest electoral college count stands at Biden 223 and Trump 174.
November 4, 00:36
Gold is holding steady around the $1,900 an ounce level as markets digest the U.S. election results. Spot gold is trading at 1,899.30, down 0.48% on the day.
November 4, 00:25
Democrat Joe Biden has taken Minnesota and Hawaii, AP reports. President Donald Trump has won Iowa, Montana, and Ohio. Electoral college count stands at Biden 223 and Trump 145.
November 4, 00:10
The precious metals and equities futures markets are favoring a Trump re-election, this according to Peter Hug, global trading director of Kitco Metals.
“What it’s telling me is that the market, both the equity market and the metals markets, from a bullish perspective would prefer Donald Trump as the president and to continue for the next four years, and they are more worried on a Biden presidency, which has created some fear and some selling into the market whenever there is a suggestion that he has a reasonable shot of becoming the next president,” Hug said.
November 4, 00:05
President Donald Trump has won the state of Utah, according to AP. Biden leads with 213 electoral votes versus Trump’s 118.
November 4, 00:02
Polls have now closed in California, Idaho, Oregon and Washington. Voting is going on in Alaska and Hawaii.
November 3, 23:38
BREAKING: #Gold market is off its session lows but still under pressure as prices reclaim $1,900 an ounce. Gold has been under pressure the U.S. presidential election has been closer than many were expecting | #kitconews | pic.twitter.com/K0LAD4RUes— Kitco NEWS (@KitcoNewsNOW) November 4, 2020
November 3, 23:21
The U.S. election remains too close to call as Fox News declares Trump the winner in Florida.
November 3, 23:20
2 men were arrested at Black Lives Matter Plaza in Washington, D.C. on #ElectionDay.— Bloomberg QuickTake (@QuickTake) November 4, 2020
An 8-hour rally led by #BlackLivesMatter and #ShutDownDC is taking place at the plaza near the White House. More @business: https://t.co/pIzSSkhxbd #Elections2020 pic.twitter.com/S3nVc1FNce
November 3, 23:19
Joe Biden has seen a jump in the electoral college votes as AP calls western states. Biden is expected to win California, Washington, and Oregon. Biden now leads the electoral college 209 with Trump is at 112. So far there have been no major surprises in this election and there is still a long road ahead.
November 3, 23:15
Odds are building that Trump can pull off a second victory. However, some analysts note that there is still a path for Biden as he looks to take Arizona. Some of the states to watch will be Nevada, Michigan Wisconsin, Ohio and of course Pennsylvania. Basically, it is still anyone’s race.
November 3, 22:51
Fox News calls Arizona for Joe Biden, which narrows the path for President Trump.
November 3, 22:41
Fox News calls Florida for Donald Trump. California, Oregon and Washtington state all called for Joe Biden.
November 3, 22:49
The Electoral College count between Trump and Biden has narrowed. According to AP, Trump now has 108 votes while Biden maintains his lead with 131. Again the magic number to reach is 270.
November 3, 22:47
Not only is surging momentum in the U.S. dollar hurting gold but equity markets have been off to the races as odds now favor a Trump victory. Trading in Nasdaq futures was halted for two minutes after the index rallied 3.9%. Gold prices remain under pressure with December futures last traded at $1,896.60 an ounce, down 0.72% on the day.
November 3, 22:40
The U.S. dollar is currently spiking versus the Chinese Yuan. As the U.S. election looks right now, traders believe it is bad for China.
November 3, 22:38
Stock futures jump in volatile trading Tuesday evening. Nasdaq 100 futures are up more than 3%, the S&P 500 is up 1.6%, and the Dow Jones Industrial Average is up 0.6%. Gold is still trading below $1,900 an ounce but off its daily lows. Spot gold was last at $1,894.70, down 0.76% on the day.
November 3, 22:26
AP is projecting Sarah McBride will win in Delaware. She will become the first openly transgender state senator in the United States.
November 3, 22:17
AP is declaring Trump the winner in Kansas.
November 3, 22:16
In another closely watched Senate race, AP projects that Lindsey Graham keeps his Senate seat in South Carolina Senate, defeating challenger Jaime Harrison.
November 3, 22:00
Fox News reports that Democrats are expected to retain control of the House.
November 3, 21:59
According to some analysts, the U.S. dollar is rising sharply as odds start to shift that President Donald Trump will win a second term. New momentum in the dollar is creating some strong selling pressure in gold and silver. According to some analysts, Trump’s odds of winning the election have jumped to 65%.
BREAKING: #Gold and #silver plunge as more U.S. election results come in. Gold is trading at $1,886.00 an ounce, down 1.19% on the day and silver is at $23.30, down 3.78% on the day #kitconews pic.twitter.com/JrTuyBtSzm— Kitco NEWS (@KitcoNewsNOW) November 4, 2020
November 3, 21:56
November 3, 21:54
Democrat Joe Biden has won the District of Columbia and the state of Colorado, maintaining his lead against Trump. Biden is currently ahead with 131 electoral votes versus Trump's 92.
November 3, 21:41
While we wait for more U.S. election results to roll in, don’t forget to download Kitco Gold Live! app to stay on top of the latest market price action.
November 3, 21:30
Some tips on how to get the most out of Kitco's LIVE UPDATES: Don't forget to refresh the page and here's how to make the LIVE gold price chart bigger.
November 3, 21:25
Here's some behind-the-scenes photos as we prep for late-night interviews to talk U.S. election results and gold. Stay tuned!
November 3, 21:21
President Donald Trump has won Arkansas, Indiana, Louisiana, Nebraska, Nebraska’s 3rd Congressional District, North Dakota, South Dakota and Wyoming, while Democrat Joe Biden has won New Mexico and New York. Currently, Biden is leading with 119 electoral votes and Trump is slightly behind with 92.
Spot gold has stabilized at around $1,900 an ounce level.
November 3, 20:39
CNN reports that QAnon promoter Marjorie Taylor Greene wins GA seat in Congress
November 3, 20:20
More results are coming in and Biden is still leading in the Electoral College vote 85 to 55. AP is calling the Mississippi, Oklahoma, Alabama, Tennessee and South Carolina for Trump. Biden is expected to win Illinois, Maryland, New Jersey, Massachusetts, Connecticut, Rhode Island and Delaware. So far, no major surprises in the election.
Gold prices are down as the results start to come in, but the precious metal continues to hold support above $1,900 an ounce.
November 3, 20:12
Gold price loses daily gains and turns negative. Spot gold is trading at $1,902.10, down 0.30% on the day.
November 3, 20:00
In Senate races, Mitch McConnell, Republican Senate Majority Leader has been reelected in Kentucky.
November 3, 19:54
Gold price is giving up some gains as spot gold is currently trading flat, last at $1,906, down 0.06% on the day.
November 3, 19:53
According to AP, Trump will win West Virginia and Kentucky, while Biden will take Vermont and Virginia. In Electoral votes, Biden has 16 and Trump has 13. We also need to point out that the magic number to reach is 270.
November 3, 19:35
There is still a long way to go in early counting, with all eyes right now on Florida. This has always been an important swing state investors need to watch. In a recent interview with Kitco News, Chris Vecchio, senior currency analyst at IG Group said that Florida could set the tone for the entire election race. “No Republican has won the White House without Florida since 1924. The state has been on the correct side of every presidential election since 1964,” he said. “If Ohio goes Democrat and Trump loses Florida, I would say the odds are that we know what the election results are going to be.”
November 3, 19:23
Polls have closed at 7pm ET time in six U.S. states, including Georgia, South Carolina, Virginia, Vermont, Indiana and Kentucky. Markets brace for results. Spot gold is trading at $1,911.40 an ounce, up 0.16% on the day.
November 3, 18:27
As first polls begin to close in some U.S. states, spot gold kicks off the Asian session on a stronger footing, last trading at $1,911.90, up 0.17% on the day.
November 3, 17:40
Visions of 2016 election night loom large in investors’ memories and the question is can this happen again.
November 3, 17:30
The Dow closes 554.98 points higher on Tuesday, up 2.1% as gold continues to solidify its daily gains above $1,900 an ounce. December Comex gold futures are trading at $1,910.50, up 0.95% on the day.
November 3, 17:05
Make sure the coffee keeps flowing because it’s going to be a long night. Here is a list of when polling stations across the U.S. are closing.
November 3, 13:24
Gold price is up 1% on the day as the U.S. Election Day is well underway with weaker U.S. dollar and higher stocks helping the precious metal make gains above $1,900 an ounce.
December Comex gold futures are at $1,911.20, up 0.99% on the day after reaching a daily high of $1,910 an ounce. In the meantime, the U.S. dollar index is at 94.03, up 0.16% on the day, while the Dow is up nearly 600 points.
November 3, 12:38
Gold is near its daily high in midday U.S. trading Tuesday. More safe-haven demand is featured for the metals as the highly anticipated and very uncertain U.S. election day is at hand. A sharply weaker U.S. dollar index today is also working in favor of the precious metals market bulls. December gold futures were last up $17.90 at $1,910.40 and December Comex silver was last up $0.282 at $24.315 an ounce.
November 3, 11:11
Will gold price and stocks see big moves right after the election results? The gold price will benefit from either party’s win, but short term, the yellow metal faces bearish pressure, is the conclusion of Gary Wagner, editor of the GoldForecast.com. Let’s first look at the scenario if Trump wins. Because he is a Republican, he still will need to pass fiscal stimulus in terms of an aid package. He has agreed to $1.8 trillion while the House has been fighting for $2.2 trillion. Although they’re not that far apart, I would expect them to dig in fairly deeply. On the other hand, if we see a Democrat win for the presidential election, I think that fiscal spending will be much larger because of the reforms of the Democrats seem to favor big government spending,” he said.
The #gold price will benefit from either party's win, but short term, the yellow metal faces bearish pressure, is the conclusion of Gary Wagner, editor of the https://t.co/0hWRV2SawShttps://t.co/7zyUxTcgJP
November 3, 09:30
Gold begins to climb as stocks open higher. December Comex gold prices breach the $1,900 an ounce level on weaker dollar and higher stocks.
BREAKING: #Gold rises above $1,900 an ounce on Election Day as stocks resume Monday's rally. December Comex gold futures are trading at $1,904.90 an ounce, up 0.66% on the day, while the #Dow is up more than 400 points #kitconews pic.twitter.com/oIGhPJfOAs— Kitco NEWS (@KitcoNewsNOW) November 3, 2020
November 3, 08:16
Gold and silver futures prices are again moderately higher in early U.S. trading Tuesday, on more safe-haven demand as the highly anticipated and very uncertain U.S. election day is at hand. December gold futures were last up $8.40 at $1,900.80 and December Comex silver was last up $0.282 at $24.315 an ounce.
November 3, 07:00
More than 100 million people have voted early in the U.S., this equals to 72.8% of the total votes cast in 2016, U.S. Elctions Projects reports.
November 3, 06:00
First polls opened at 6 am ET time in the U.S. with minimal disruptions reported.
November 2, 18:00
Top 3 trades to weather post-election storm and market bubble: Over-extended equities valuations, excellent fundamentals and balance sheets for miners, and the volatility that election results would bring to stocks are contributing factors to the following three trade ideas: long mining stocks, short broad equity indices, and short emerging market currencies, said Tavi Costa, portfolio manager at Crescat Capital.