* Trump wins battlegrounds of Florida, Ohio and Texas
* FACTBOX-Who is winning the U.S. election? * Graphic: Global markets since Trump's election in 2016 https://tmsnrt.rs/3mLQXkZ
(Adds comment, updates prices)
By Nakul Iyer and Eileen Soreng
Nov 4 (Reuters) - Gold fell 1% on a stronger dollar on
Wednesday after the latest voting tallies from the U.S.
presidential election showed a tight race, with President Donald
Trump winning in Florida and leading in a few other battleground
states.
Spot gold XAU= fell 0.9% to $1,890.99 per ounce by 0750
GMT. U.S. gold futures GCv1 dropped 1% to $1,891.30 per ounce.
"The knee-jerk climb in the dollar index heaped downward
pressure on the precious metal," said FXTM market analyst Han
Tan.
"With the Blue Wave's path now obfuscated, a divided Senate
threatens to slow any passage of fresh U.S. fiscal stimulus.
Such prospects are dampening gold's ability to push higher for
the time being."
Trump won the battleground states of Florida, Ohio and
Texas, while Democratic rival Joe Biden said he was on track to
winning the White House by taking three key Rust Belt states.
Betting market odds have begun to tighten after flipping in
favour of Trump, according to data from three aggregators.
"The confidence that market participants had earlier about a
clear result is slipping," said Harshal Barot, senior research
consultant for South Asia at Metals Focus.
But there is a set of strategic investors keen to buy any
major dips in gold and "there's still a lot of uncertainty ahead
for the global economy in terms of rising virus cases and fresh
lockdowns," Barot said.
The dollar .DXY was up 0.6% against a basket of major
currencies. USD/
Silver XAG= was down 2.8% a $23.50 per ounce, having
fallen as much as 3.9% earlier. Platinum XPT= fell 1.8% to
$850.86 and palladium XPD= slid 2.3% to $2,230.29.
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Gold dips as dollar gains https://tmsnrt.rs/38gwUae
ETF stockpiles and gold prices https://tmsnrt.rs/2TQFiVK
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