Gold gained in early Asian trade amid better risk sentiment. There are increased hopes that a Democratic-led Congress will be able to fight inflation more effectively, said ANZ Research. The precious metal continues its upward trajectory as market participants weigh political developments against economic data.
ANZ Research analysts noted that the potential for more effective inflation fighting under divided government has bolstered investor confidence. This comes as gold has shown resilience amid shifting global economic conditions.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing