With safe-haven demand and capital inflows, gold remains well-supported. "Given that the market may feel uneasy ahead of the elections, the uncertainty surrounding the U.S. elections is another pillar supporting the gold market."

Expectations of further monetary policy easing by central banks, along with safe-haven demand during periods of economic and political uncertainty, have driven gold prices up over 32% this year, reaching multiple historical highs.

Gold continues to be viewed as a classic hedge against inflationary pressures.

Oct 25 2024