Gold prices hit a new high on Oct. 30 amid the upcoming U.S. presidential election and ongoing geopolitical tensions, with investors awaiting the release of key economic data.
Spot gold prices breached the $2789 per oz. level in early trading on Wednesday, continuing the uptrend of the last few days. Gold has been bullish for the previous four trading days, moving from a low of $2,715 per ounce on Oct. 24 to $2,775 on Oct. 29.
Since the beginning of the year, gold has risen by more than 34 percent and is “on pace for its best year since 1979,” Charlie Bilello, chief market strategist at wealth management firm Creative Planning, said in an Oct. 30 post on social media platform X….