{"id":107478,"date":"2024-10-23T09:32:37","date_gmt":"2024-10-23T05:32:37","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=107478"},"modified":"2024-10-23T09:32:40","modified_gmt":"2024-10-23T05:32:40","slug":"gold-reaches-record-high-amid-u-s-election-uncertainty-and-middle-east-tensions","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-reaches-record-high-amid-u-s-election-uncertainty-and-middle-east-tensions\/10\/23\/market-updates\/","title":{"rendered":"Gold Reaches Record High Amid U.S. Election Uncertainty and Middle East Tensions"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><\/h3>\n\n\n\n<p>Gold prices hit a record high in Asian trading on Wednesday, driven by safe haven demand as investors brace for a tight U.S. presidential race and continued geopolitical unrest in the Middle East. Spot gold climbed to $2,750.35 per ounce, with December futures rising 0.2% to $2,764.15.<\/p>\n\n\n\n<p>Despite the U.S. dollar nearing a three-month high, gold&#8217;s allure remained strong, as market uncertainty persists. Polls suggest a close race between Republican Donald Trump and Democrat Kamala Harris, while tensions in the Middle East escalate with Israel&#8217;s ongoing military actions against Hamas and Hezbollah, and potential retaliation against Iran.<\/p>\n\n\n\n<p>Safe haven demand overshadowed the impact of a stronger dollar and rising Treasury yields. The Federal Reserve is expected to implement a smaller rate cut of 25 basis points in November, down from September&#8217;s 50 bps reduction.<\/p>\n\n\n\n<p><strong>Other Precious Metals<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Silver<\/strong>: Fell 0.5% to $34.885 per ounce.<\/li><li><strong>Platinum<\/strong>: Rose 0.5% to $1,046.10 per ounce.<\/li><\/ul>\n\n\n\n<p><strong>Copper Slips as China Stimulus Disappoints<\/strong><br>Copper prices fell 0.4%, reflecting disappointment over China&#8217;s recent stimulus measures. Markets are now looking to the National People&#8217;s Congress meeting later this month for further cues on fiscal spending. Copper futures were down to $9,587.50 per ton on the London Metal Exchange, as traders navigate uncertainty over demand from the world&#8217;s largest importer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices hit a record high in Asian trading on Wednesday, driven by safe haven demand as investors brace for a tight U.S. presidential race and continued geopolitical unrest in the Middle East. Spot gold climbed to $2,750.35 per ounce, with December futures rising 0.2% to $2,764.15. Despite the U.S. dollar nearing a three-month high, &hellip;<\/p>\n","protected":false},"author":9,"featured_media":105896,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[],"class_list":["post-107478","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/107478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=107478"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/107478\/revisions"}],"predecessor-version":[{"id":107479,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/107478\/revisions\/107479"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/105896"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=107478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=107478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=107478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}