Gold prices are flat in early Asian trade on cautious mood ahead of the U.S. election later today and the Fed's rate decision this week, ANZ Research analysts say.
Latest polls suggest a possible Harris win will weigh on the dollar and provide some support for the precious metal, they say. Meanwhile, the Fed is widely expected to lower rates when it meets later this week.
Citi analysts point out that gold has historically unperformed following the U.S. elections due to fading hedging demand. However, Citi believes "the structural gold bull market remains intact and recommend buying into dips." Spot gold is flat at $2,735.01/oz.
Source : Dow Jones Newswires
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