Gold prices hover near record peak on US election jitters
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Gold prices remain near record highs due to uncertainty surrounding the upcoming U.S. presidential election; Spot gold at US$2,753.00 per ounce, close to record high of US$2,758.37; U.S. gold futures at US$2,765.20; IG market strategist Yeap Jun Rong notes gold's status as a hedge against market turbulence; Investors await critical economic data including U.S. job openings, ADP employment, and payrolls report; Fed's rate decision on Nov. 5 expected to influence gold prices; 97% chance of a 25 basis points rate cut anticipated; Spot silver at US$33.86, platinum at US$1,043.20, and palladium at US$1,227.84.
#Gold #UsElections #FederalReserve #MarketTurbulence #EconomicData #Investors #InterestRates #SpotPrices #PreciousMetals #FinancialNews
https://www.nst.com.my/business/economy/2024/10/1127036/gold-prices-hover-near-record-peak-us-election-jitters
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