Update prices
By 0308 GMT, it had risen gold In spot transactions, it rose 0.2 percent to $2,779.39 per ounce, after hitting its highest level ever at $2,782.03 earlier in the session.
Gold futures in the United States increased 0.4 percent to $2,791.70.
Kelvin Wong, chief market analyst for the Asia-Pacific region at Oanda, said, “Gold is highly linked to the outcome of the US elections… In the short term, gold in spot transactions will face resistance at the $2,800 level, and then at the $2,826 level,” according to the agency. Reuters.”
The elections scheduled for November 5 have entered their final stage, and the latest opinion polls indicate a tough competition between Donald and Donald Trump Trump And Kamala Harris.
Other factors that contributed to gold’s record rise included expectations of more price reduction decisions Interest American. Low interest rates contribute to reducing the opportunity cost of holding non-yielding gold.
It is almost certain that policymakers in… US central bank They will decide on a quarter-point cut in short-term borrowing costs next week, as a US Department of Labor report showed that job opportunities fell in September to their lowest level since January 2021.
“If we see hot inflation numbers or a strong jobs report, there may be a deviation in,” Wong added Gold prices“.
Other important data sets scheduled for release this week include the employment report at 1215 GMT Wednesday, US personal consumption expenditures Thursday, and the payrolls report Friday.
Moreover, a bank cut Goldman Sachs His forecast for the price of gold from $3,080 to $3,000 by December 2025, but he maintained his bullish stance.
As for other precious metals, it decreased Silver In spot transactions, 0.3 percent to $34.33 per ounce.
And he went down Palladium Nearly one percent to $1,210.72 an ounce, while it rose Platinum 0.1 percent to $1,046.89.