Gold Surges on Dollar, Stimulus Hopes With Election Outcome Near
- Bloomberg dollar index declines for third straight day
- Bullion rises past 50-day moving average in bullish sign
This article is for subscribers only.
Gold touched a six-week high and copper advanced for a fourth straight session, boosted by a declining dollar and the outlook for further central-bank stimulus as investors await the final outcome of the U.S. presidential election.
A gauge of the dollar touched a two-year low, with investors pricing in a likely Joe Biden presidency. Hopes for more monetary stimulus also boosted metals, with the Bank of England expanding its bond-buying program and the Federal Reserve saying further monetary and fiscal support is likely needed.