U.S. election anxieties push gold towards its best month in seven
Gold prices eased on Thursday but were just shy of a record high, heading for their best month in seven as a hotly-contested U.S. presidential election race sparked safe-haven demand, while the focus is also on the release of a key U.S. inflation print.
Spot gold was down 0.3% at $2,777.10 per ounce by 0841 GMT, after hitting a record high of $2,790.15 earlier in the session. Prices have firmed nearly 6% for the month so far.
U.S. gold futures dipped 0.4% to $2,789.00.
Opinion polls are too close to call a winner between Republican former U.S. President Donald Trump and Democratic Vice President Kamala Harris in the highly anticipated final phase of the U.S. election.
UBS expects gold to rise to $2,800 by end of this year and to $3,000 by end-2025.
On Thursday, spot silver fell 0.7% to $33.57 per ounce and was up more than 7% for the month.
Platinum shed 0.4% to $1,004.25. Palladium was down 1.5% at $1,129.92, headed for its best month since January 2022.
Source: Reuters
