With the US presidential elections scheduled to be held on Tuesday, November 5 (November 6 in India), gold prices are showing some fluctuations. This is due to uncertainty and expectations in the market.

Gold futures on Monday, November 4, were trading at ₹78,382 per 10 grams, down ₹485 in Indian markets. This decline highlights the impact of global market trends as investors prepare for changes in economic policy.

Globally, gold futures were down slightly by 0.08%, trading at $2,747 per ounce. However, despite this small decrease, gold prices Markets remain relatively stable as traders prepare for a big week for the global economy.

Spot gold rose 0.2% to $2,741.63 per ounce, following the record high of $2,790.15 achieved last Thursday (October 31). US gold futures were also steady at $2,750.60 per ounce.

As uncertainty grows ahead of the election, market analysts, including Tim Waterer, chief market analyst at KCM Trade, suggest that potential delays in election results or divisions in Congress could push prices below the safe-haven flow, causing prices to rise.

“The US dollar lost some momentum at the beginning of the week, which leaves the door open for gold to rise further,” Waterer said. he said.

Currently, the dollar index is down 0.5%, near its lowest level in two weeks.

The weakening of the dollar increases the attractiveness of gold for international investors as it becomes more affordable in other currencies.

Additionally, traders are closely watching the Federal Reserve’s upcoming interest rate decision, with an almost 100% chance of a quarter-point rate cut this week.

Gold It is generally viewed as a safe investment in times of economic instability and geopolitical tension, and it particularly thrives in low-interest-rate environments.

As the election approaches, investors are aware of how the outcome will affect gold’s trajectory in the coming weeks.

Moreover, the market is also looking at China, where the Standing Committee of the National People’s Congress will meet from November 4 to 8. Given China’s situation, analysts expect additional fiscal stimulus measures to be approved, which could further impact global gold demand. A major consumer of precious metals.

-With input from agencies

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