Markets
Gold Climbs to a Fresh Record as Geopolitics Drive Haven Demand
- Precious metal continues to be supported by global uncertainty
- Citigroup upgrades three-month gold outlook to $2,800 an ounce
This article is for subscribers only.
Gold climbed to a fresh record as the approaching US election and conflict in the Middle East boosted haven demand.
Bullion hit an all-time high of $2,748.36 an ounce, topping Monday’s record. Traders have flocked to the market amid a tight US presidential vote and persistent concern that violence in the Middle East may escalate into a wider war. The sentiment spilled over to the silver market, with prices of the white metal climbing for its sixth-straight session to within striking distance of $35 an ounce.