Gold Slips as Traders Absorb Biden Withdrawal From US Election
- Precious metal has pulled back from recent record price
- China’s gold imports plunged in June, official data show
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Gold edged lower on Monday as traders mulled President Joe Biden’s decision to end his re-election campaign — and what it means for Donald Trump’s chances of returning to the White House.
Spot bullion traded just under $2,400 an ounce, erasing earlier gains. Biden said he would serve out his term and endorsed Vice President Kamala Harris to replace him as a candidate, though she still must secure the official nomination at the Democratic National Convention next month.