Update prices
He went up gold In spot transactions, it rose 0.3 percent to $2,729.40 per ounce by 0654 GMT, after hitting its highest level ever at $2,732.73 earlier.
US gold futures rose 0.6 percent to $2,744.80.
Supported by high yellow metalPrices rose Silver In spot transactions, it rose 1.1 percent to $34.03 per ounce, reaching its highest level since late 2012.
“This month’s rise is driven more by safe haven demand due to geopolitical tension in the Middle East and uncertainty over… American elections Because the results seem very close, and any (of the candidates) could win.”
And bear witness US presidential elections The year 2024 is an intense competition between former President Donald Trump and Vice President Kamla Harris in the seven swing states that will determine the outcome of the elections scheduled for November 5.
In the Middle East, hundreds of Beirut residents fled their homes late Sunday evening as multiple explosions were heard and Israel attacked sites linked to the financial operations of the Hezbollah group.
Gold is considered a safe investment in times of economic and political turmoil. It also boosts prices Interest Low attractiveness of the metal that does not generate returns.
Investors welcomed news of the cut China Record lending rates after another interest rate cut last month as part of a package of stimulus measures to revive the economy.
Demand for gold has declined in China, the largest consumer of the yellow metal, due to rising prices and a slowdown in the economy.
Traders expect 99 percent that the Federal Reserve (the US central bank) will cut interest rates in November. The European Central Bank cut interest rates by a quarter of a percentage point last week.
As for other precious metals, platinum rose 0.3 percent to $1,016.21 per ounce, reaching its highest level since mid-July. Palladium increased 0.3 percent to $1,076, according to Reuters data.