Gold stands still in Asia as traders eye US vote
On Thursday, gold stood intact during Asia trade, with market sentiment mixed as traders are waiting for further clarity as for American presidential election. Much attention is also paid to a widely expected rate lift by the Fed in December.
In New York, December delivery gold futures ascended moderately to $1,266.80 per troy ounce. Meanwhile, December delivery Comex, silver futures tumbled 0.02%, getting to $17.623 per troy ounce. At the same time copper futures were flat at $2.141 a pound.
Overnight, gold traded at a three-week peak during North America's trading session, as the greenback rebounded from nine-month highs, reached overnight, thus spurring the appeal of the number one precious metal.
Notwithstanding recent revenues, the outlook for gold is still cloudy as a recent string of upbeat American economic data combined with quite hawkish remarks from major Fed officials heightened hopes for an interest rate lift before the end of 2016.