Commodities
Gold Climbs to Fresh Record With Focus on US Election and Data
- The precious metal is up by more than a third this year
- Haven demand and central-bank buying have supported rally
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Gold climbed toward another fresh record as traders await the latest US economic data and the presidential election, now just a week away.
Bullion rose as much as 0.9% to $2,766.73 an ounce, topping the all-time high set last week. Its strength came despite rising bond yields and a strong US dollar, which would have weighed on the precious metal. Lower rates and a softer greenback typically benefit gold as it pays no interest and is priced in the US currency.