KONTAN.CO.ID - LONDON. Gold firmed on Wednesday after last session's sharp drop spurred demand for the safe-haven metal from investors worried about global economic recovery and uncertainty surrounding next month's U.S. presidential election. Wednesday (13/10), spot gold was up 0.2% to $1,895.41 per ounce, after shedding as much as 1.9% on Tuesday in reaction to the dollar's jump. U.S. gold futures gained 0.2% to $1,899.20. "We're seeing some price recovery as lower prices generated buying interest by investors since the general backdrop of gold is still positive," said Commerzbank analyst Carsten Fritsch.
Gold gains on U.S. election uncertainty, economic worries
KONTAN.CO.ID - LONDON. Gold firmed on Wednesday after last session's sharp drop spurred demand for the safe-haven metal from investors worried about global economic recovery and uncertainty surrounding next month's U.S. presidential election. Wednesday (13/10), spot gold was up 0.2% to $1,895.41 per ounce, after shedding as much as 1.9% on Tuesday in reaction to the dollar's jump. U.S. gold futures gained 0.2% to $1,899.20. "We're seeing some price recovery as lower prices generated buying interest by investors since the general backdrop of gold is still positive," said Commerzbank analyst Carsten Fritsch.