The cost of gold rises at the uncertainty around elections and economic support
Gold is slightly growing this morning - at 9:08 on the Comex exchange it is the price went up by 0.01% to $1936.3 per troy ounce. Earlier this morning, the growth reached 0.44%. The prerequisite for this is uncertainty, related to the further support of the economy by the American the authorities in the run-up to the elections, as well as the elections themselves, which will take place on November 3. In connection with a statement made by U.S. President Donald Trump in the past a week that he stops negotiating with the representatives of the democratic party about the incentive package before the elections, investors are inclined to be cautious. After this statement, however, Trump still approved the support plan with some changes - by of media information, it was increased to $1.8 trillion. The election environment is also conducive to the growth of gold, which plays a key role in the development of the media the role of the shelter asset. In some states, voting has already begun ahead of schedule. According to AxiCorp market strategist Stephen Inessa, after the elections, the economic stimulus package will be adopted very quickly.