Gold was steady in early Asian trade, after topping $2,800/oz for the first time on Wednesday.
Anna Golubova is the Producer for Kitco News. With more than ten years of experience in media, she has covered a range of topics, focusing on economy and politics.
Gold topped $2,800 an ounce for the first time ever on Wednesday, but one analyst warned that the upward movement for prices may be “limited” going forward as strength in Treasury bond yields is a reminder to investors of the high opportunity cost of the non-yielding precious metal.
Gold futures (GC1!) hit a new all-time high Wednesday, briefly surging past $2,800 for the first time as investors rush to the precious metal as a safe-haven investment amid uncertainty around next week's U.S. presidential election next and simmering geopolitical tensions.
The gold market continues to see a lot of bullish pressures, as the market is going to be focused on a lot of different things going on over the course of the next few trading sessions. With this being said, expect volatility, but strength overall.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Gold prices hit a new high at $2,789.86 as election uncertainty and expected Fed rate cuts fuel demand. Discover what's driving this historic rally in gold.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
George Milling-Stanley, chief gold strategist at State Street Global Advisors, discusses the precious metal's rally and its outlook. Gold reached a record in early Asian trading on Wednesday.
Hang Seng and Mainland stocks slip amid concerns over US-China tariffs, while Nikkei rises on BoJ rate hold expectations post-election.
Gold edged higher in early Asian trade as it continued a recent run of printing fresh record highs.