Gold climbs as US election chaos escalates after Biden drops out

Gold edged higher 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, as the metal benefitted 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 as the Democratic nominee.