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Home Markets Commodities

Gold prices drop, Trump wins Texas, Ohio

Olumide Adesina by Olumide Adesina
November 4, 2020
in Commodities
Gold on a grand slam win, gains $40 per ounce
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The world’s safe-haven asset’s prices dropped below the $1,900/ounce level amid odds putting the President’s re-election high as he won key crucial states  like Texas, Ohio

What we know

READ: US Election: President Trump, Democrats contender, Biden trade words over victory

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At the time this report was drafted, Gold futures prices were down by over 1%, trading at $1886.90/ounce.

According to the most recent poll by Actionnetwork , the incumbent President Donald Trump holds 66.7% as against Joe Biden’s 33.3%.

READ: Nigeria’s Ngozi Okonjo-Iweala close to being announced as new DG of WTO

Why it’s happening

President Donald Trump is now the odds-on favorite to win the election for the first time since May 5, according to the betting odds at Betfair.

There are two key races in swing states likely influencing the overall odds, and Trump is favored to win.

 


Follow us for Breaking News and Market Intelligence.
Tags: Donald TrumpJoe Biden
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

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