Gold prices rose nearly 1% on Thursday, trading near record highs, driven by safe-haven demand due to geopolitical concerns and inflationary pressures. Spot gold reached $2,735.55 per ounce, boosted by expectations of monetary policy easing and uncertainty surrounding the U.S. election.
Gold prices have surged over 32% this year, supported by concerns over rising U.S. fiscal debt. Palladium jumped 9% following reports of potential supply sanctions on Russia, a major producer. Meanwhile, silver dropped 0.3%, and platinum rose 0.9%. Analysts see further upside potential for silver, given it remains below its record highs.
Gold climbs on safety rush, supply threat bolsters palladium price
Oct 24, 2024
Article from Reuters by Anjana Anil
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