Gold prices drop, Trump wins Texas, Ohio

The world’s safe-haven asset’s prices dropped below the $1,900/ounce level amid odds putting the President’s re-election high as he won key crucial states  like Texas, Ohio

What we know

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At the time this report was drafted, Gold futures prices were down by over 1%, trading at $1886.90/ounce.

According to the most recent poll by Actionnetwork , the incumbent President Donald Trump holds 66.7% as against Joe Biden’s 33.3%.

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Why it’s happening

President Donald Trump is now the odds-on favorite to win the election for the first time since May 5, according to the betting odds at Betfair.

There are two key races in swing states likely influencing the overall odds, and Trump is favored to win.