Global uncertainties push safe-haven gold to record high
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Gold prices reached a record high of US$2,755.30 on October 23, 2024, driven by Middle East conflicts and U.S. election uncertainties; spot gold was trading at US$2,754.25 per ounce at 0748 GMT; U.S. gold futures rose to US$2,768.40; Michael Langford of Scorpion Minerals noted inflationary policies from presidential candidates support gold prices; a Reuters/Ipsos poll showed Kamala Harris leading Trump 46% to 43%; Israel confirmed the killing of Hashem Safieddine, a Hezbollah heir; the U.S. Federal Reserve initiated a rate-easing cycle with a 50-basis-point cut; Standard Chartered analysts commented on gold's resilience despite rising yields and a strong dollar; spot silver fell to US$34.68 per ounce.

#Gold #Economy #MiddleEast #UsElection #Investments #Inflation #Safehaven #MarketTrends #FederalReserve #Silver

https://www.nst.com.my/business/economy/2024/10/1123951/global-uncertainties-push-safe-haven-gold-record-high