Gold Prices Rise Slightly as Terrified Investors Seek Financial Safety

Hedging Against Volatility

Gold prices rose slightly during early Asian trading sessions today. The shiny metal benefits directly from the sudden drop in oil prices. Falling energy costs finally eased terrifying global inflation concerns. Spot gold rose 0.2 percent to exactly $3,934.75 an ounce today. U.S. gold futures for December delivery climbed to $3,943.20. Investors desperately need safe havens right now.

Waiting for Election Results

Financial markets remain completely paralyzed by the US midterm elections. Analysts expect the Democratic Party to achieve surprisingly strong results. A divided US government will cause massive volatility across all asset markets. Traders are also waiting for crucial American labor market data. This data dictates future monetary policy directions from the central bank. Meanwhile, silver fell 0.2 percent while palladium rose slightly to $938.49.