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Indonesia News Portal for Traders | Financial & Business Updates

29 October 2024 01:47  |

Gold Inches Toward Record-High

Gold again closes in on a record high, with the front-month contract finishing up 0.1% to $2,742.90 an ounce. Today marks a third consecutive higher close, and is the second-highest finish for the contract on record. 

Investors continue to maintain positive sentiment toward gold following Israel's retaliation against Iran and ahead of the U.S. Presidential election. Open interest in precious metals futures rose 1.6% from the previous week to roughly $234 billion through the week ended Oct. 25, according to JPMorgan Global Commodities Research in a note. 

"We continue to closely monitor flows into gold through ETF purchases driven by retail demand," JPMorgan says. SPDR Gold shares are flat Monday. 

Source : Dow Jones Newswires

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