Gold was steady below a record high, with traders monitoring a tight US presidential election that could have a dramatic impact on economic policy.
Bullion traded near $2,740 an ounce after the latest raft of polling data showed no clear frontrunner in the race between Kamala Harris and Donald Trump ahead of the vote on Tuesday. The uncertainty has spurred a rush to haven assets, and many investors anticipate the precious metal could rise further — especially if the result is contested.
Gold has surged by around a third this year on a combination of easing monetary policy, central-bank buying and elevated geopolitical tension, with the rally intensifying in the last couple of months. Trump is pledging a major increase in import tariffs, which could spur inflation and buoy demand for the precious metal.
Markets were also digesting a US jobs report released Friday that showed hiring advanced at the slowest pace since 2020 in October, while the unemployment rate remained low. The Federal Reserve is widely expected to cut interest rates by a quarter percentage point this week, following the election. Higher rates tend to weigh on gold, which doesn't pay interest.
Spot gold was steady at $2,737.58 an ounce as of 8:20 a.m. in Singapore, after reaching an all-time high of $2,790.10 last week. The Bloomberg Dollar Spot Index fell 0.4%. Silver and palladium edged higher, while platinum was steady.
Source : Bloomberg
Gold prices were on track for their sharpest daily decline in five years on Tuesday (October 21st), as investors took profits after expectations of a US interest rate cut and continued demand for safe...
Gold and silver experienced their sharpest sell-offs in years as investors locked in profits amid concerns that the precious metals' recent historic rally has overvalued them. Spot gold prices plunge...
Gold extends its Asian session retracement slide from the vicinity of the all-time peak and touches a fresh daily low, around the $4,331-4,330 region in the last hour. The US Dollar attracts buyers fo...
Gold is approaching a record high again after dip buying emerged following a sharp decline over the weekend. Prices are hovering around $4,365 per ounce, nearing the peak reached the previous day. Des...
Gold prices rose more than 2% on Monday (October 20th), boosted by expectations of further US interest rate cuts and continued demand for safe-haven assets, as investors awaited US-China trade talks a...
US stocks closed higher for the third straight session as a strong start to earnings overcame lingering US-China trade uncertainty. The Dow Jones Industrial Average rose 240 points to a record high, while the S&P 500 and Nasdaq Composite Index...
Oil prices rose on Tuesday (October 21), bouncing off a five-month low in the previous session, as investors reassessed expectations of a possible oversupply and sought clarity on the trade dispute between the U.S. and China, the world's two...
Gold prices were on track for their sharpest daily decline in five years on Tuesday (October 21st), as investors took profits after expectations of a US interest rate cut and continued demand for safe-haven assets pushed the precious metal to a...
U.S. Treasury Secretary Scott Bessent said on Friday he expects to meet next week with Chinese Vice Premier He Lifeng in Malaysia to try to...
The 20-day US federal government shutdown is likely to end this week, White House economic adviser Kevin Hassett said on Monday.
"I think the...
Asia-Pacific stock markets opened higher on Monday (October 20th), as investors awaited the release of key economic data from China. Analysts expect...
U.S. President Donald Trump said Monday he expects to reach a "fair trade deal" with Chinese President Xi Jinping and downplayed fears of conflict...