On Friday, November 6) in plate, the dollar index rebounded slightly, now near 92.65, spot gold surged yesterday to retreat, after but now remained above $1940 / ounce, gold is now around $1944 / ounce. The prospect of a Biden victory gave gold a strong boost by raising expectations of more stimulus from the United States. The United States, choose please several us media said biden has won 264 electoral votes, trump 214 electoral votes, Joe biden, you just need to win six votes wins the election, the latest news shows that biden trump on almost immediately after Georgia, if biden win in the state’s reversal, it might help biden won the presidential election, the session investors will continue to pay close attention to the state. In addition to the U.S. election, investors will be greeted with the U.S. non-farm payrolls report on Friday evening Beijing time, which is expected to trigger market volatility.
Joe Biden came close to matching Donald Trump’s campaign in Georgia with the dismissal of two election suits
According to the Associated Press and Fox News, Biden has 264 electoral votes to Trump’s 214, and the first candidate with 270 will win. Results for the remaining five states are yet to be determined. Biden is still ahead in Nevada, and it’s worth noting that he and Trump are in a close tie in Georgia. If Mr Biden reversed Georgia, it would cut off Mr Trump’s path to re-election.
The four undecided swing states are Nevada, Georgia, North Carolina and Pennsylvania. Biden won either of the four key swing states by 270 votes or more.
At last count, Trump led Biden by just 2,497 votes, less than 0.05 percent. It’s worth noting that Trump’s lead has been narrowing over the past day.
If Biden wins Georgia, along with the state’s 16 electoral votes, he would get 280.
Jen O ‘Malley Dillon, Mr Biden’s campaign manager, said Georgia was a democratic stronghold and he was confident of winning the state.
With 99 percent of the votes counted in Georgia, Trump had 49.4 percent of the vote, while Biden had 49.3 percent, according to the latest NBC news count. Mr Trump has a lead of just 2,497. More than 71,000 votes are expected to be counted. Mr Trump’s lead had reached 2.5 points earlier on Wednesday local time.
Nevada has 89 percent of the votes counted, with Trump taking 48.5 percent and Biden 49.4 percent. Biden leads by about 11,000 votes. More than 140,000 votes are expected to be counted. Nevada has six electoral votes.
With 88 percent of the votes counted in Arizona, Biden won 50.3 percent to Trump’s 48.3 percent. Biden leads by about 57, 000 votes. More than 420,000 votes are expected to be counted. Arizona has 11 electoral votes.
With 94 per cent of the votes counted in Pennsylvania, Mr Trump won 49.7 per cent to Mr Biden’s 49 per cent. Mr Trump is ahead by less than 50,000 votes. More than 410,000 votes are expected to be counted. Pennsylvania has 20 electoral votes.
According to A CNN report on Thursday, advisers to Mr Trump said there was no room for error for Mr Trump and that Georgia was important to the campaign. Another Republican source said there had been resignations within the Trump campaign, but they were not ready to accept defeat.
Speaking in the White House press room on Tuesday night, US President Donald Trump insisted that he must “protect the US election 2020” and that if only legitimate votes were counted, “I would win hands down”.
“I have won decisively, counting only legitimate votes,” Mr Trump said. If you count the illegal votes, then they [Democrats] might try to steal the election from us.” Mr Trump accused fraud in some places because votes had “miraculously declined”. Referring to the controversial postal ballot, he said: “There is a gap in the region and then there is a delay and then there is a delay.”
In his speech, Mr Trump also said the election had been “fraudulent” and that “it was a fraud on the American public and an embarrassment to the country”. He added, “We are ready to win this election, and frankly, we have won this election.” Mr Trump also expressed confidence that he would win Pennsylvania. “Most importantly, we won Pennsylvania by a huge number of votes,” Mr Trump said.
Us Democratic presidential candidate Joe Biden spoke in Wilmington, Delaware on The afternoon of November 5, local time. “In America, voting is sacred,” Mr Biden said. “It is the expression of the will, it is the will of the people, and it is not the choice of the President of the United States or anything else. Every vote has to be counted, but it takes patience.” In his speech, Mr. Biden appealed to his supporters to remain calm. “We feel very good about the situation, and we have no doubt that when the votes are counted, Harris and I will both be declared winners,” biden said. The counting of votes is now being completed.”
On November 5, a judge in Michigan dismissed a lawsuit brought by the Trump campaign, following a judge in Georgia who dismissed the campaign’s suit. The suit calls for an immediate halt to the counting of votes until its representatives can “meaningfully” obtain the right to count and rule. Michigan Judge Cynthia Stephens is highly skeptical about the lack of evidence in the case and whether the campaign sued Benson, the secretary of state.
“Stop counting!” President Donald Trump tweeted in all caps on Nov 5. In another tweet, Mr Trump said: “Any vote after election day will not be counted!” But the latter was removed from Twitter on suspicion that “some or all of the content Shared is controversial and may mislead the election, etc.”
North Carolina is not expected to release results until next week, due to factors such as the failure of some mail-in ballots to return, according to a CNN update. Nevada is expected to count all the votes by the end of the week; Votes are still being counted in Georgia, Pennsylvania, and Arizona.
Biden’s victory is expected to spur a surge in gold prices
Spot gold rebounded to a 1 1/2-month high on Thursday as the prospect of a U.S. presidential election victory for Biden rose, boosting hopes for more U.S. stimulus and pushing down the dollar. Spot gold closed at $1948.71 an ounce, up $45.80, or 2.41 percent, after hitting an intraday high of $19,52.68 an ounce, a level not seen since September 21. In Asian trading on Friday, spot gold eased slightly to around $1,944 an ounce.
Gold prices continued their upward trend on Thursday and managed to break through the $1,934.86 an ounce level, confirming the opening of the way for further gains in the coming period, according to an article on Economies.com. Waiting for gold to test its next major target is $1967.90 an ounce. The first key factor in continuing bullish expectations was gold’s holding above $1,934.86 an ounce, Economies.com added.
Mr. Biden is expected to enact a larger stimulus than Mr. Trump to ease the economic impact of the outbreak. Gold is seen as a hedge against inflation and currency depreciation, which a massive stimulus could lead to.
“It seems increasingly clear that a Democrat will be President next year,” said Michael Matousek, chief trader at U.S. Global Investors in New York. He added that would ensure a bigger stimulus package and depress the dollar.
In a decision Thursday, the Federal Reserve left short-term borrowing rates near zero. The decision shows that the US economy is growing, but not at pre-coronavirus levels. “We’re going to hear language from the Fed calling for more stimulus,” said David Meger, head of metals trading at High Ridge Futures.
“The broader macro backdrop remains supportive after the U.S. election as we expect further dollar weakness, real interest rates to remain negative and further stimulus measures,” said Suki Cooper, an analyst at Standard Chartered bank in New York.
If Biden wins, the dollar will weaken because it will spend more, said Rhona O’Connell, an analyst at StoneX. “A weaker dollar doesn’t mean there’s a lack of confidence in the market. It means the market thinks Biden is going to win.” In addition, the market expects biden’s stimulus program to be larger, which will also weigh on the dollar in favor of gold.
James Rasteh, chief information officer of Coast Capital, said gold and gold miners stand to benefit no matter who wins this week’s U.S. election, thanks to the sizable government stimulus package. “We will print trillions of dollars and all of these prospects will ultimately have a very positive impact on gold,” Rasteh said.
In addition to the U.S. election, investors will also focus on the U.S. non-farm payrolls data due at 21:30 Beijing time on Friday.
Non-farm payrolls are expected to have risen by 600,000 in October after rising 661,000 in September, according to authoritative media surveys. The unemployment rate is likely to fall from 7.9 per cent in September to 7.7 per cent.
Investors are also looking at payroll data. Average hourly wages are expected to rise 0.2 percent in October and 4.6 percent at an annual rate, the survey showed.
Analysts said if the U.S. non-farm payrolls report for October is weak, that could hit the dollar and push gold higher.