The price of gold and the price of copper went down Wednesday, while the price of oil showed an increase. Traders are cautiously losing confidence in a rapid result of the American presidential election. This possible ambiguity makes the financial markets somewhat nervous. The opening indicators for the US stock exchange were also very mobile.
In addition, every headline or early indication of a possible victory by Donald Trump or Joe Biden is answered. The incumbent American president Trump seems to have once again defied opinion polls, with profits in major states such as Florida and Texas. That seems to stand in the way of Joe Biden’s rapid passage to the White House.
Gold lost its shine and was traded in for dollars, for example. The price of oil went up by a few percent. Commodity dealers point out that the oil market benefits from Trump’s victory, because it is unlikely that, for example, the Iranian supply will return. During his presidency, Trump took a firm stand against major producers such as Iran and Venezuela.