Gold prices jump amid election fever.

Gold prices jump amid election fever.

Dicing aside the prospect of growing dollar prices, gold rose in the early trades on Monday. Investors are looking for safe investments amid the US elections and surging cases of COVID-19, and there is nothing better than the yellow metal given the history. 

 

Gold futures edged past the $1880 mark by 12:47 AM ET and touched $1,880.40, up by 0.03 per cent in the initial session. 

 

Traders are hedging their investment, which is causing an inflow of funds in the precious metals, helping it to grow further. Also, the uncertainties caused due to elections and coronavirus are fearing investors to settle for the best assets around. 

 

Interestingly, gold and dollar share a diametrically opposite relationship, but they both rose to the occasion. The lack of coronavirus stimulus consequently also helped the yellow-metal to push its price range. 

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