London- Gold prices fell, on Tuesday, as investors awaited the results of the US elections, as Democratic candidate Joe Biden in opinion polls is a narrow lead over US President Donald Trump.
The yellow metal had fallen in the spot market 0.1 percent to 1892.73 dollars an ounce by 5:33 am GMT.
There was little change in the price of gold in futures trading in America at $ 1893.20 an ounce.
“Morale is hanging on a hair at the moment, and nobody knows in which direction the elections are going, and there are many possibilities,” said Hui Li, an economist at Tao CBC Bank.
He indicated that if the results were inconclusive or questionable, that would be in favor of the dollar and would weaken gold.
Investors are also awaiting the meeting of the Federal Reserve’s Open Market Committee on Wednesday, which will last for two days. – (Reuters)
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