Today's Gold Price (October 30): Conquering a New Record?
Global gold prices surged, with spot gold rising by 32.8 USD to reach 2,775.6 USD/ounce, while the most recent trade for gold futures reached 2,786.5 USD/ounce, marking an increase of 30.2 USD from yesterday morning.
Gold’s rise has been supported by concerns surrounding the U.S. presidential election, tensions in the Middle East, and expectations that the U.S. Federal Reserve (Fed) may cut interest rates in November.
Currently, the race between Donald Trump and Kamala Harris remains highly intense as the November 5 presidential election approaches. According to my personal analysis, bullish speculators appear to be taking advantage of the temporary weakening of the USD and rising yields, along with risks tied to the U.S. election and the expectation of a Fed rate cut.
Gold is likely to maintain its upward trend and could even reach the 2,800 USD/ounce mark in the near future, as long as concerns over U.S. election risks continue to pressure the market, while expectations for a Fed rate cut remain unchanged.
Gold’s rise has been supported by concerns surrounding the U.S. presidential election, tensions in the Middle East, and expectations that the U.S. Federal Reserve (Fed) may cut interest rates in November.
Currently, the race between Donald Trump and Kamala Harris remains highly intense as the November 5 presidential election approaches. According to my personal analysis, bullish speculators appear to be taking advantage of the temporary weakening of the USD and rising yields, along with risks tied to the U.S. election and the expectation of a Fed rate cut.
Gold is likely to maintain its upward trend and could even reach the 2,800 USD/ounce mark in the near future, as long as concerns over U.S. election risks continue to pressure the market, while expectations for a Fed rate cut remain unchanged.
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