Gold

Meanwhile, investors are keeping an eye on stimulus prospects.

Spot gold dropped 0.6% and the dollar strengthened as the race’s tightness spurred a flight to the safety of the greenback.

Global fund managers are ready for extreme market volatility as they expect the outcome of the elections to be contested.

With a recovering global economy, investors should be looking at companies that are expected to recover once a vaccine is out.

Markets have remained calm following the debates in the absence of any policy surprises.

The company was also able to achieve a higher bottomline because it kept costs under control.

Gold has been a traditional store of value and hedge against inflation as well as economic-geopolitical uncertainties for thousands of years — and a strategic asset in many diversified portfolios, including those of central banks.

After setting a record above US$2,000 an ounce last week, gold’s rally has come to a juddering halt as U.S. bond yields advanced, eroding the haven’s appeal.

US stocks turned sharply lower in the final hour of trading as investors sold some of the rally’s biggest winners amid concern a spending package from Washington is not imminent.

Of late, however, there appears to be a reversal in growth expectations, driven by the country’s worsening outbreak, the likelihood of more fiscal spending and rising deficit as well as extremely dovish comments from the Fed.