Gold Nears Fresh Record With Focus on US Election and Fed Rates
- Traders adjust portfolios as polls predict tight race
- A second Trump term could create crosswinds for gold
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Gold rallied toward a fresh record high as investors turned their attention to the upcoming US election, with polls forecasting a razor-thin contest with less than three weeks to go.
The precious metal is one of the strongest performing commodities in 2024, setting successive records thanks to its appeal as a safe haven asset and rapacious central-bank buying. Now, it’s finding fresh support as investors across financial markets reposition their portfolios in response to uncertainty over the outcome of the US presidential race.