And he went up gold In spot transactions, it rose 0.42 percent to $2,747.56 per ounce at the end of Friday trading. Prices reached a record high last Wednesday at $2,758.37, and recorded gains for the third week in a row.
US gold futures rose 0.2 percent to $2,760.80 per ounce upon settlement.
Gold has jumped 33 percent since the beginning of the year with the rise in demand for safe haven investments due to the ongoing tension in the Middle East, in addition to reducing interest rates in the United States by half a basis point.
Uncertainty over the US presidential elections has increased demand for the yellow metal, as polls show that the competition is still close.
Gold rose despite the gains achieved by the dollar, which is expected to record its fourth weekly rise as the odds of Donald Trump’s victory increase.
Palladium in spot transactions recorded the highest level in ten months for the second day in a row, amid concerns about exports from Russia. In the latest trading, it rose 3.2 percent to $1,194.36 an ounce.
Palladium increased in spot transactions yesterday, Thursday, by nine percent after Bloomberg News reported that the United States asked its allies in the Group of Seven industrialized nations to consider imposing sanctions on Russian palladium and titanium.
As for other precious metals, silver in spot transactions fell 0.3 percent to $33.61 per ounce, after hitting a 12-year high at $34.87 earlier this week. Platinum fell 0.2 percent to $1,024.20.