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Markets eye political moves

Key markets closed lower and futures were mixed, while the spot gold price has moved up towards US$1,900 an ounce again as the US was poised to watch the first presidential debate ahead of the November election.
Markets eye political moves Markets eye political moves Markets eye political moves Markets eye political moves Markets eye political moves

Image: Unsplash/Hassan Pasha

Staff reporter

"The prospect of a tightly contested election, one that may lead to an uncertain result that is fought out in the courts in a manner reminiscent of, but worse than, 2000, may make markets more volatile for longer," IG chief market analyst Chris Beauchamp said last week.

The precious metal was worth $1,895/oz at the time of writing.

In the UK, the House of Commons has passed controversial post-Brexit bill, ahead of an EU summit set for October 16.

Copper closed slightly higher, up 0.2% on the London Metal Exchange.

China will close for Golden Week tomorrow.

Among the majors, precious metals producer Fresnillo closed 2.51% higher in London.

Freeport-McMoRan erased the previous day's gains, finishing 3.65% lower in New York.

In Toronto, Barrick Gold rose 1.94% and BHP was down 2% in morning Australian trade.