GOLD HOLDS STEADY AS MARKET AWAITS U.S. ELECTION OUTCOME

Gold prices remained stable on Wednesday as investors waited for the U.S. election results.

As of Tuesday, Republican Donald Trump won 14 states, while Democrat Kamala Harris won four states and Washington, D.C., according to Edison Research.

Key battleground states could take hours or days to determine.

Financial analyst Kyle Rodda said that gold would likely benefit from a Trump win due to expected high deficit spending and possibly uncertain U.S. foreign policy.

Traders are also watching the Federal Reserve’s policy meeting, ending Thursday, for additional economic direction.

Many expect the Fed to announce another rate cut this week following one in September.