Gold News – 23.Oct.2024
Gold News
Gold Surge: Gold hit a new all-time high at $2,758.8, before easing slightly to $2,750 due to profit-taking.
Futures: U.S. gold futures dropped by 0.2% to $2,753.40.
Safe-Haven Demand: Both gold and the U.S. dollar are benefiting from safe-haven flows due to geopolitical tensions in the Middle East and the upcoming U.S. election.
Poll: A Reuters/Ipsos poll shows U.S. Vice President Kamala Harris leading slightly over Donald Trump ahead of the election.
Middle East Conflict: Israel confirmed the killing of Hezbollah’s potential future leader, Hashem Safieddine.
Annual Gains: Gold has risen by more than 33% this year, supported by global uncertainties and looser monetary policies.
Fed Policy: Expectations for a rate cut in November have decreased, with a 92% chance of a smaller 0.25% cut.
Other Metals: Spot silver fell 0.7% to $34.58, platinum rose 0.5% to $1,033.75, and palladium dropped 0.2% to $1,073.80.
Author : Arman Shaban
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