Gold prices hit record high due to Trump gaining ground in election polls and Middle East tensions

From Investing.com.: 2024-10-21 06:16:00

Gold prices hit a new record high as Trump gains ground in US election polls. Geopolitical tensions in the Middle East also boost demand for the precious metal, with Israel intensifying attacks on Hezbollah and Hamas. The US dollar strengthens against other currencies amid increased election and geopolitical risks, following a rebound in Treasury yields. Euro, Pound, and Loonie slip ahead of key events, as ECB and Bank of England are expected to cut rates faster than the Fed. Stocks await key earnings reports from Tesla and Amazon, with Texas Instruments results also in focus to gauge chip market demand. Apple’s strong iPhone sales in China drive market optimism.



Read more at Investing.com.: Gold, US Dollar Edge Up Amid Rising Bets on Trump Victory