Market update
Price rose gold In spot transactions, it rose 0.2 percent to $2,724.88 per ounce, by 0037 GMT, after hitting an all-time high of $2,725.81 earlier in the session.
US gold futures rose 0.4 percent to $2,740.00.
Markets expect 99 percent of prices to fall Interest By the Reserve Bank Federal In November, according to the CME Fedwatch tool. As reduced European Central Bank Interest rates rose a quarter point last week.
Gold is expected to trade in the $2,500-$2,800 range in the coming months, with prices receiving support from interest rate cuts by the US Federal Reserve and high levels of geopolitical tension, according to analysts at BMI.
Low interest rates contribute to increasing the attractiveness of bullion, which does not generate returns but is at the same time a safe investment in times of turmoil.
Silver prices rose 0.1% to $33.69 per ounce, after hitting its highest level since late 2012. Silver is considered an investment asset due to its relationship with gold and industrial metals.
While platinum settled at $1,013.54, palladium rose 0.2 percent to $1,081.50.
On the other hand, the US budget deficit rose to $1.833 trillion for fiscal year 2024, the highest level except for the Covid year, as interest on the federal debt exceeded $1 trillion for the first time, according to the US Treasury Department.