US Election Risk Premium Pricing Could Elevate Gold Prices

According to a report from two members of the OCBC Global Markets Research, the rise of gold continues as markets continue to price in the risk premium of the U.S. presidential elections. Analysts noted that the gap in betting markets between Trump and Harris continues to widen in favor of Trump, stating, "This brings tariffs, inflation, and financial concerns back to the forefront." The members expressed that "given the fluidity of election developments and geopolitical uncertainties, gold may still attract interest in the near term." According to charts, gold's resistance is at the $2,800 level, while its support is at $2,720.