Gold gained as markets weighed President Joe Biden’s decision to end his reelection bid, which sparked fresh questions over whether the move will help or hinder Donald Trump’s chances of returning to the White House.
Bullion rose as much as 0.5% in early Asian hours, benefiting from haven appetite amid heightened uncertainty over what’s already been a tumultuous US election campaign. Biden said he would serve out his term but endorsed Vice President Kamala Harris to take his place in the race, though she must still secure official nomination by the Democrats at the party’s national convention next month.