Gold Price News: Stabilization at USD 2,743 – US elections shape market sentiment

The US presidential elections on November 5, 2024, are taking on a crucial role in the current economic climate, which is also reflected in the current price of gold. While markets await the results of the election between Donald Trump and Kamala Harris, the price of gold remains stable at USD 2,743. Expectations regarding the election results traditionally influence the volatility of the gold market, as investors seek safe havens to counter possible political uncertainties.

In addition to the US elections, current geopolitical events are significantly influencing the gold market. The ongoing conflicts in Ukraine and the tensions in the Middle East are leading to increased demand for gold as a safe haven. In particular, the latest developments in the Middle East conflict, including the escalations between Israel and its opponents, are reinforcing this tendency. Similarly, the situation in Ukraine, where the recent military clashes are directly affecting market dynamics.

The economic policy platforms of the two main candidates, Trump and Harris, for the US elections could have different effects on the gold price. They depend on their plans for trade, tariffs and international relations. Trump's approaches to “America First” policy, deregulation policy and tax cut plans could further promote economic growth and lead to market stability, while Harris' focus on renewable energy and social justice could have other long-term economic effects.

Technical analysis shows that the gold price is currently operating at a critical resistance point near USD 2,760. If this resistance is overcome, the gold price could move to new highs. However, analysts emphasize that the next few days will be crucial, as the results of the US elections and reactions to geopolitical developments will largely determine market trends.

The combination of the US elections, geopolitical tensions and economic policy uncertainties is keeping the gold market in a volatile phase. Investors and market observers should keep a close eye on developments, as the situation can change quickly. The decision of US voters will not only shape national politics, but will also have far-reaching implications for the global economy and the gold market.