Gold rises as oil declines and attention turns to the results of the U.S. midterm elections.
- Gold Prices Rise Amid Lower Oil Prices and Anticipation of U.S.
- This rise comes as lower oil prices eased inflation concerns, coinciding with investor anticipation of the results from the U.S.
- gold futures for December delivery remained stable at $3,970.80 per ounce.
- Additionally, platinum increased by 0.2 percent to $1,451.48, while palladium also saw a 0.2 percent rise, reaching $970.50 per ounce.
Gold Prices Rise Amid Lower Oil Prices and Anticipation of U.S. Midterm Elections
Gold prices increased at the start of Asian market trading on Tuesday, following gains of over two percent in the previous session. This rise comes as lower oil prices eased inflation concerns, coinciding with investor anticipation of the results from the U.S. congressional midterm elections.
In spot trading, gold climbed by 0.3 percent to $3,960.80 per ounce, continuing its recovery after hitting a one-year low during last Friday’s session.
Meanwhile, U.S. gold futures for December delivery remained stable at $3,970.80 per ounce.
Other Precious Metals Experience Gains
In other precious metal markets, silver rose by 0.3 percent in spot trading to $50.79 per ounce. Additionally, platinum increased by 0.2 percent to $1,451.48, while palladium also saw a 0.2 percent rise, reaching $970.50 per ounce.
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