Gold Price Surges as U.S. Election Tension Grows

Wednesday, 30 October 2024, 03:02

Gold prices surged as anxiety mounts ahead of the U.S. election November 5. The latest increase reflects a growing trend among investors prioritizing stability during uncertain times. This trend has pushed December gold futures higher, indicating the potential for further growth in the precious metal market.
Marketwatch
Gold Price Surges as U.S. Election Tension Grows

Gold Prices Surge Amid U.S. Election Uncertainty

The price of gold rose to another record high early Wednesday as investors continued to buy the precious metal as anxiety builds ahead of the U.S. election on November 5.

Market Trends and Price Movements

The December gold futures contract on NYMEX climbed 0.5% to $2,793.7 an ounce, taking the bullion's gains over the past 12 months to 40.3%.

Analyst Insights

Analysts at Bespoke Investment noted that gold could gather further propulsion now it has registered a technical breakout.


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