Gold prices have remained resilient as the U.S. presidential election nears, with investors turning to safe-haven assets amid political uncertainty. Currently, gold is trading around $2,735 per ounce, holding firm after touching record highs last week. The upcoming election and its potential impact on economic policies continue to drive interest in gold as a stable store of value.
Market participants are closely watching the tight race between Democratic candidate Kamala Harris and Republican Donald Trump, as the outcome could influence the direction of fiscal and monetary policies. Furthermore, the Federal Reserve is widely expected to announce a quarter-point interest rate cut, which may further bolster gold prices as low rates tend to increase the metal’s appeal.
Analysts speculate that a Trump victory could push gold prices even higher, potentially nearing $2,900 per ounce, while a Harris win may result in a temporary pullback. Overall, gold has gained 33% year-to-date, benefiting from ongoing economic uncertainty and a low-interest-rate environment that encourages demand for assets less tied to traditional markets.
Other precious metals, including silver, platinum, and palladium, have also seen moderate gains, reflecting broader trends influenced by both geopolitical tensions and expectations for economic policy shifts.
