Gold Futures Prices Move Lower; US Election Concerns Seen Lifting Demand

Gold Futures Prices Move Lower; US Election Concerns Seen Lifting Demand

Gold futures prices fell on Friday, but were expected to remain limited losses, as investors’ appetite for market-haven asset remained intact to signs of a US presidential election closely.

On the Comex Exchange, gold futures for December delivery were down 0.29% at $1,299.95.

Spot gold was down 0.3 per cent at $1,299.49 an ounce.

The Fed held the interest rates without change after a policy meeting on two days earlier this week and noted that there could raise rates in December.

Since the FBI announced research emails Democratic candidate Hillary Clinton, uncertainty about the election outcome has peaked, with markets without ruling out the chance that the Republican Donald Trump packs a victory.

Clinton supporters watched nervously opinion polls showing the Democrat with a slight advantage over Trump on Thursday as the White House candidates ran through the vital battleground states in a final search of votes.

Investors were looking towards the report nonfarm US payrolls due later in the day for more indications regarding the strength of the labor market, after processing firm US payroll ADP reported on Wednesday that private employment not agriculture grew less than expected last month.

In Delhi gold of 99.9 per cent and 99.5 per cent purity advanced by Rs 50 each to Rs 31,050 and Rs 30,900 per 10 grams, respectively.

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