World gold prices fall when the USD index is anchored high

Investors are expressing caution ahead of the US Presidential election and the upcoming decision of the US Federal Reserve (FED) on interest rates.

Today (November 5), the US presidential election will take place. Public opinion polls show that Democratic candidate Kamala Harris and Republican candidate Donald Trump are closely tied in the race for the White House.

UBS analyst Giovanni Staunovo shared: "The driving force for gold this week will be the US presidential election. If Donald Trump wins, the gold price will move faster closer to the target of 2,900 USD/ ounces, gold will likely fall if Ms. Kamala Harris wins.

Meanwhile, the Fed's interest rate decision is unlikely to create much change, because the bank will likely signal further cuts in line with market expectations."

🔥 XAUUSD BUY LIMIT 2727 - 2725🔥

✅TP1: 2755
✅TP2: 2765
✅TP3: OPEN

🚫SL: 2724

🔥 XAUUSD SELL LIMIT 2753 - 2751🔥

✅TP1: 2745
✅TP2: 2735
✅TP3: OPEN

🚫SL: 2760