Gold prices rose in Asian trading on Monday, remaining within sight of record highs, as anticipation of a tense presidential election and Federal Reserve meeting kept gold demand strong. About this write investing.com.
The yellow metal was also helped by a weaker dollar after last week's much softer-than-expected non-farm payrolls data that bolstered the case for further Fed interest rate cuts.
Still, gold has been reeling from recent record highs, largely due to profit-taking in late October.
Gold was currently up 0,2% at $2 an ounce, while gold for December delivery settled at $741,31 an ounce by 2:750,40 GMT).
This trend is expected to give the Fed an additional incentive to lower interest rates. The central bank is due to cut rates by 25 basis points later this week.
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