Gold extends its surge on American election jitters
On Wednesday, gold prices extended their overnight revenues during Europe's trading, getting to a fresh one-month peak as demand for safe-haven assets was driven amid surging jitters over the American presidential election.
In New York, December delivery gold futures hit an intraday high of $1,295.85 per troy ounce, the most impressive result since October 4.
On Tuesday, prices of the most popular yellow metal added 1.17%, as traders were rattled by indications that the American presidential election race was tightening less than a week before the scheduled November 8 vote.
Two separate surveys demonstrated Donald Trump moving moderately ahead of Hillary Clinton, because enthusiasm for the Democratic candidate has dropped since the renewal of the FBI’s email investigation late the previous week.
The market is also monitoring the outcome of the Federal Reserve's policy gathering later in the day. The US number one financial institution isn’t expected to increase interest rates, though could signal its intention to raise in December amid clues that the US economy is picking up steam.