Price movements
rose gold In spot transactions, it rose by approximately 0.7 percent to $2,678.70 per ounce by 11:43 GMT, which is seven dollars less than a record peak of 2,685.42 recorded last month.
US gold futures increased 0.6 percent to $2,695.30.
Investment in gold as a safe haven increases during low interest rates and during economic and geopolitical turmoil.
“The uncertainty surrounding the US elections and geopolitical tensions will also support gold,” said Soni Kumari, commodity analyst at ANZ.
Yields on standard 10-year US Treasury bonds fell to the lowest level in more than a week, which increases the attractiveness of investing in gold.
Investors are awaiting data on retail sales, industrial output, and weekly unemployment claims USwhich will be published tomorrow, Thursday.
San Francisco Fed President Mary Daly said the central bank remains on track for further cuts this year if data remains in line with expectations.
As for other precious metals, it rose Silver In spot transactions, it rose 1.2 percent to $31.85, platinum increased 0.7 percent to $991.24, and palladium rose 0.6 percent to $1,015.75.
