Gold Climbs to Record as Mideast, US Election Drive Haven Demand

Bloomberg

2024-10-21

(Bloomberg) -- Gold reached a record on Monday, with safe haven demand continuing to support prices as traders monitored escalating tensions in the Middle East and the increasingly tight US election race.

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Bullion climbed as much as 0.3% to an all-time high of $2,729.30 an ounce, topping last week’s peak by a few dollars. The bullish sentiment has also spilled over to silver, which was trading at the highest since 2012.

Markets are focused on geopolitical risks in the Middle East, with Israel discussing its next attack on Iran after a Hezbollah drone exploded next to Prime Minister Benjamin Netanyahu’s private home on Saturday. US President Joe Biden and his administration have urged the renewal of cease-fire negotiations in the region, though Israeli hard-liners oppose concessions.

Traders were also repositioning portfolios ahead of the US election on Nov. 5. Polls show the contest between Donald Trump and Kamala Harris could be the closest in a generation. Investors typically seek safety in gold in times of geopolitical and economic uncertainty.

Gold futures may rise to average $3,000 an ounce in the fourth quarter of 2025, Commonwealth Bank of Australia analyst Vivek Dhar said in a note on Monday. The Federal Reserve’s rate-cutting cycle would likely drive weakness in the US dollar, he added. A lower greenback makes bullion cheaper for many buyers, as it’s priced in the US currency.

Bullion is one of 2024’s strongest performing commodities, with gains of more than 30% so far this year. Rate-cut optimism fueled the most recent advances as the Fed kicked off its easing cycle last month. Robust central bank buying has also been a long-standing pillar of support for gold prices.

Spot gold was up 0.2% to $2,727.15 an ounce as of 9:57 a.m. in Singapore. The Bloomberg Dollar Spot Index held a decline. Silver, palladium and platinum all rose.

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©2024 Bloomberg L.P.

免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。

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The Federal Reserve’s rate-cutting cycle would likely drive weakness in the US dollar, he added. A lower greenback makes bullion cheaper for many buyers, as it’s priced in the US currency.</p>\n<p>Bullion is one of 2024’s strongest performing commodities, with gains of more than 30% so far this year. Rate-cut optimism fueled the most recent advances as the Fed kicked off its easing cycle last month. Robust central bank buying has also been a long-standing pillar of support for gold prices.</p>\n<p>Spot gold was up 0.2% to $2,727.15 an ounce as of 9:57 a.m. in Singapore. The Bloomberg Dollar Spot Index held a decline. Silver, palladium and platinum all rose.</p>\n<p>Most Read from Bloomberg Businessweek</p>\n<ul>\n<li>AI Detectors Falsely Accuse Students of Cheating—With Big Consequences</li>\n<li>BYD Is Winning the Global Race to Make Cheaper EVs</li>\n<li>A Fentanyl Vaccine Is a Long Shot That Just Might Work</li>\n<li>Neuralink Co-Founder’s New Startup Sells a Brain Computer Toolkit</li>\n<li>How Starbucks Became a Sugary Teen Emporium</li>\n</ul>\n<p>©2024 Bloomberg L.P.</p></body></html>","source":"yahoofinance_au","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Gold Climbs to Record as Mideast, US Election Drive Haven Demand</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGold Climbs to Record as Mideast, US Election Drive Haven Demand\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2024-10-21 09:59</span>\n</p>\n</h4>\n</header>\n<article>\n<html><body><p>(Bloomberg) -- Gold reached a record on Monday, with safe haven demand continuing to support prices as traders monitored escalating tensions in the Middle East and the increasingly tight US election race.</p>\n<p>Most Read from Bloomberg</p>\n<ul>\n<li>A Broken Oil Pipeline Plunges South Sudan’s Capital Into Chaos</li>\n<li>Drug Decriminalization Spawns a Political Debacle for Progressives</li>\n<li>Cities Look to AI to Flag Residents’ Trash and Recycling Mistakes</li>\n<li>One City’s Plan to Re-Link a Neighborhood That Robert Moses Divided</li>\n<li>Chicago Should Consider Furloughs, Higher Booze Tax, Watchdog Says</li>\n</ul>\n<p>Bullion climbed as much as 0.3% to an all-time high of $2,729.30 an ounce, topping last week’s peak by a few dollars. The bullish sentiment has also spilled over to silver, which was trading at the highest since 2012.</p>\n<p>Markets are focused on geopolitical risks in the Middle East, with Israel discussing its next attack on Iran after a Hezbollah drone exploded next to Prime Minister Benjamin Netanyahu’s private home on Saturday. US President Joe Biden and his administration have urged the renewal of cease-fire negotiations in the region, though Israeli hard-liners oppose concessions.</p>\n<p>Traders were also repositioning portfolios ahead of the US election on Nov. 5. Polls show the contest between Donald Trump and Kamala Harris could be the closest in a generation. Investors typically seek safety in gold in times of geopolitical and economic uncertainty.</p>\n<p>Gold futures may rise to average $3,000 an ounce in the fourth quarter of 2025, <a href=\"https://laohu8.com/S/CBAPJ.AU\">Commonwealth Bank of Australia</a> analyst Vivek Dhar said in a note on Monday. The Federal Reserve’s rate-cutting cycle would likely drive weakness in the US dollar, he added. A lower greenback makes bullion cheaper for many buyers, as it’s priced in the US currency.</p>\n<p>Bullion is one of 2024’s strongest performing commodities, with gains of more than 30% so far this year. Rate-cut optimism fueled the most recent advances as the Fed kicked off its easing cycle last month. Robust central bank buying has also been a long-standing pillar of support for gold prices.</p>\n<p>Spot gold was up 0.2% to $2,727.15 an ounce as of 9:57 a.m. in Singapore. The Bloomberg Dollar Spot Index held a decline. Silver, palladium and platinum all rose.</p>\n<p>Most Read from Bloomberg Businessweek</p>\n<ul>\n<li>AI Detectors Falsely Accuse Students of Cheating—With Big Consequences</li>\n<li>BYD Is Winning the Global Race to Make Cheaper EVs</li>\n<li>A Fentanyl Vaccine Is a Long Shot That Just Might Work</li>\n<li>Neuralink Co-Founder’s New Startup Sells a Brain Computer Toolkit</li>\n<li>How Starbucks Became a Sugary Teen Emporium</li>\n</ul>\n<p>©2024 Bloomberg L.P.</p></body></html>\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://finance.yahoo.com/news/gold-climbs-record-mideast-us-225534264.html\">Bloomberg</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CBAPK.AU","symbol_name":"Commonwealth Bank of Australia","start_time":0,"source_url":"https://finance.yahoo.com/news/gold-climbs-record-mideast-us-225534264.html","article_id":"2477021266","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/hU6N0BNn9YUzPKNJ0vb9EA--~B/aD0xMzM0O3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/24e409c1666ae17bb5682222b4971d3d"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2477021266","pubTimestamp":1729475945,"columns":[],"sourceInfo":{"source_id":"yahoofinance_au","name":"Yahoo Finance AU"},"weMediaInfo":null,"summary":" -- Gold reached a record on Monday, with safe haven demand continuing to support prices as traders monitored escalating tensions in the Middle East and the increasingly tight US election race.A Broken Oil Pipeline Plunges South Sudan’s Capital Into Chaos. Drug Decriminalization Spawns a Political Debacle for Progressives. Cities Look to AI to Flag Residents’ Trash and Recycling Mistakes. One City’s Plan toRe-Linka Neighborhood That Robert Moses Divided. Chicago Should Consider Furloughs, Higher Booze Tax, Watchdog Says. Bullion climbed as much as 0.3% to an all-time high of $2,729.30 an ounce, topping last week’s peak by a few dollars. The bullish sentiment has also spilled over to silver, which was trading at the highest since 2012.Gold futures may rise to average $3,000 an ounce in the fourth quarter of 2025, Commonwealth Bank of Australia analyst Vivek Dhar said in a note on Monday. The Federal Reserve’s rate-cutting cycle would likely drive weakness in the US dollar, he added. A l","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CBAPK.AU":"Commonwealth Bank of Australia","CBAPG.AU":"Commonwealth Bank  Pref G","CBAPL.AU":"Commonwealth Bank Of Australia","CBAPM.AU":"Commonwealth Bank Of Australia.","CBAPI.AU":"COMMONWEALTH BANK AUST","CBA.AU":"COMMONWEALTH BANK OF AUSTRALIA","CBAPH.AU":"COMMONWEALTH BANK AUST","BK7135":"综合性银行"},"translate_title":"中东和美国大选推动避险需求，金价攀升至创纪录水平","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CBA.AU":0.9,"CBAPG.AU":0.9,"CBAPH.AU":0.9,"CBAPI.AU":0.9,"CBAPK.AU":0.9,"CBAPL.AU":0.9,"CBAPM.AU":0.9},"content_text":"(Bloomberg) -- Gold reached a record on Monday, with safe haven demand continuing to support prices as traders monitored escalating tensions in the Middle East and the increasingly tight US election race.\nMost Read from Bloomberg\n\nA Broken Oil Pipeline Plunges South Sudan’s Capital Into Chaos\nDrug Decriminalization Spawns a Political Debacle for Progressives\nCities Look to AI to Flag Residents’ Trash and Recycling Mistakes\nOne City’s Plan to Re-Link a Neighborhood That Robert Moses Divided\nChicago Should Consider Furloughs, Higher Booze Tax, Watchdog Says\n\nBullion climbed as much as 0.3% to an all-time high of $2,729.30 an ounce, topping last week’s peak by a few dollars. The bullish sentiment has also spilled over to silver, which was trading at the highest since 2012.\nMarkets are focused on geopolitical risks in the Middle East, with Israel discussing its next attack on Iran after a Hezbollah drone exploded next to Prime Minister Benjamin Netanyahu’s private home on Saturday. US President Joe Biden and his administration have urged the renewal of cease-fire negotiations in the region, though Israeli hard-liners oppose concessions.\nTraders were also repositioning portfolios ahead of the US election on Nov. 5. Polls show the contest between Donald Trump and Kamala Harris could be the closest in a generation. Investors typically seek safety in gold in times of geopolitical and economic uncertainty.\nGold futures may rise to average $3,000 an ounce in the fourth quarter of 2025, Commonwealth Bank of Australia analyst Vivek Dhar said in a note on Monday. The Federal Reserve’s rate-cutting cycle would likely drive weakness in the US dollar, he added. A lower greenback makes bullion cheaper for many buyers, as it’s priced in the US currency.\nBullion is one of 2024’s strongest performing commodities, with gains of more than 30% so far this year. Rate-cut optimism fueled the most recent advances as the Fed kicked off its easing cycle last month. Robust central bank buying has also been a long-standing pillar of support for gold prices.\nSpot gold was up 0.2% to $2,727.15 an ounce as of 9:57 a.m. in Singapore. The Bloomberg Dollar Spot Index held a decline. Silver, palladium and platinum all rose.\nMost Read from Bloomberg Businessweek\n\nAI Detectors Falsely Accuse Students of Cheating—With Big Consequences\nBYD Is Winning the Global Race to Make Cheaper EVs\nA Fentanyl Vaccine Is a Long Shot That Just Might Work\nNeuralink Co-Founder’s New Startup Sells a Brain Computer Toolkit\nHow Starbucks Became a Sugary Teen Emporium\n\n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}