​Gold May Hit New High amid Steady Election Odds

WikiFX News (19 Sept.) -The latest polls show Democratic presidential nominee Biden leads Trump in key states. Nevertheless, the winner remains unclear according to the election odds of the betting company, supporting the risk-oriented gold with uncertainties.

Fluctuations in the Biden-Trump spread ahead of the presidential debate on September 29 may bring along risks to markets. If the race progressively intensifies, a directional change in the polls may catalyze a bout of volatility, injecting uncertainty into markets. The increased risk sentiment is expected to boost gold prices.

Judging from recent odds, the spread between the two is narrowing with the average bet remaining steady. How this trend plays out in the future deserves close attention.

Currently, gold prices are carving out a bullish flag. If the upper band is broken, gold can hopefully reclaim the uptrend by further testing the year high of $2069.77, and even an all-time high is again waiting ahead.

All the above is provided by WikiFX, a platform world-renowned for foreign exchange information. For details, please download the WikiFX App: bit.ly/WIKIFX

Chart: Trend of Gold Price