Since gold does not yield interest, it tends to thrive in a low-interest-rate environment and is viewed as a hedge against market volatility. Year-to-date, gold prices have surged over 34%.

Former U.S. President Donald Trump and Democratic Vice President Kamala Harris are competing vigorously for the opportunity to move into the White House, which leads to a New Historical High in Gold Prices.

Uncertainty from the U.S. Elections and Middle Eastern Conflicts Enhances Gold's Appeal

Gold prices, which had reached record highs, paused on Monday (28th) due to rising US Treasury yields and a stronger dollar. At the same time, the market is waiting for a series of US economic data to be released this week in search of clues about the Federal Reserve's interest rate outlook.

The US dollar strengthens, gold's upward momentum pauses, and the market waits for US data.

With safe-haven demand and capital inflows, gold remains well-supported. "Given that the market may feel uneasy ahead of the elections, the uncertainty surrounding the U.S. elections is another pillar supporting the gold market."

Expectations of further monetary policy easing by central banks, along with safe-haven demand during periods of economic and political uncertainty, have driven gold prices up over 32% this year, reaching multiple historical highs.

Gold continues to be viewed as a classic hedge against inflationary pressures.

On Tuesday (22nd), gold prices rose by 1%, reaching a new historical high. This increase was driven by factors such as the uncertainty surrounding the U.S. election and the heightened demand for safe-haven assets due to the war in the Middle East, along with expectations of further monetary easing, which amplified the upward momentum of gold prices.

Gold rose by 0.9% to $2,746.69 per ounce, reaching an all-time high again.

Gold prices paused their rise on Monday (21st) after soaring to a record high, as rising U.S. Treasury yields and a stronger dollar offset the uncertainty stemming from the U.S. presidential election and the war in the Middle East. With only a few weeks left until the U.S. election... we are seeing the geopolitical situation in the Middle East intensifying, whether it's Israel, Iran, or other underlying developments happening.

Gold expected to rise to $2,900 per ounce within the next 12 months

Due to the heightened demand for safe-haven assets amid the final stages of the U.S. election, uncertainty in the Middle East, and factors such as the European Central Bank's interest rate cuts, gold continued to rise in Asian trading on Friday (October 18), breaking through the $2,700 per ounce mark for the first time and setting a new historical high.

Johnny Lee

Johnny Lee

2024年10月30日

Uncertainty from the U.S. Elections and Middle Eastern Conflicts Enhances Gold's Appeal

Johnny Lee

2024年10月29日

The US dollar strengthens, gold's upward momentum pauses, and the market waits for US data.

Johnny Lee

2024年10月25日

Gold continues to be viewed as a classic hedge against inflationary pressures.

Johnny Lee

2024年10月23日

Gold rose by 0.9% to $2,746.69 per ounce, reaching an all-time high again.

Johnny Lee

2024年10月22日

Gold expected to rise to $2,900 per ounce within the next 12 months

Johnny Lee

2024年10月18日

Gold Price Breaks Through $2,700 for the First Time, Setting New Historical Highs