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Nov 4 - Gold prices rose on Monday, as U.S. election uncertainty loomed with markets pricing in chances of a contested result and political tensions, while investors also kept a close tab on the Federal Reserve policy meeting later this week.
A Reuters/Ipsos poll conducted last month found worries that the U.S. could see a repeat of the unrest that followed Trump's 2020 election defeat, when his false claim that his loss was the result of fraud prompted hundreds to storm the U.S. Capitol. Also on the radar this week is the Fed's interest rate decision on Thursday, with markets widely anticipating a quarter-point cut.
"I guess the driver for gold this week will be US elections. The Fed cut is unlikely to trigger much movements in my view, as the bank is likely to signal further cuts in line with market expectations," said UBS analyst Giovanni Staunovo.
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