Commodities
Gold Hovers Below All-Time High as US Election Gets Underway
- The Federal Reserve is expected to cut rates later in the week
- Bullion has surged by more than 30% so far this year
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Gold held steady as US election day begins, with a Federal Reserve interest rate decision also due later this week.
Bullion was near $2,740 an ounce, just shy of the all-time high set last week. While prices have been relatively stable so far on Tuesday, previous US elections have seen sharp swings. With polls suggesting a photo-finish result, the risk of a disputed outcome means that the vote count could drag on for days or even weeks.