Gold prices soar on US election jitters

Gold prices surged on Thursday steered by uncertainty surrounding the US election and expectations of more interest rate cuts by major central banks, while spotlight shifted to a slew of US data.

Spot gold prices rose at 9:01 GMT by 0.31 per cent to $2,682.02 per ounce, compared to the previous closing price of $2,673.84. While, US gold futures increased 0.20 per cent to $2,696.80, compared to Wednesday’s closing of $2,691.3.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama