Gold in Worst Run Since 2019 as Election Nears, Pandemic Rages

(Bloomberg) — Gold headed for a third monthly drop — the longest run since 2019 — as investors favored the dollar as a haven in the final days before next week’s pivotal U.S. presidential election, a contest that coincides with a wave of coronavirus cases that’s ripping through the top economy and Europe.Uncertainty remains high before the Nov. 3 vote, lifting the dollar’s appeal as a safe asset over bullion. The spread of Covid-19 is intensifying in the U.S., where new cases topped 86,000 to set a fresh daily record, as well as right across Europe’s leading nations.Since hitting a …read more

Source:: Yahoo Finance