Gold price moves in tight range

Gold held a narrow $5 range on Monday as investors were cautious ahead of the US midterm elections, which will determine whether the Republican or Democratic Party controls Congress. Spot gold was little changed at $1,232.00 per ounce, by 1005 GMT, while US gold futures were flat at $1,233.2 per ounce. “The market is adopting a wait and see approach,” said Saxo Bank analyst Ole Hansen.