NY gold futures hit new high; buy safe assets due to Middle East concerns

NY gold futures hit new high; buy safe assets due to Middle East concerns
Gold bars (Reuters)

On the 29th, gold futures prices on the New York Mercantile Exchange continued to rise for the fourth consecutive business day, with December delivery, the main market, closing at $2,781.10 per ounce, up $25.20 from the previous day. The highest closing price for the central contract month was set for the first time in a week.

In addition to the uncertainty surrounding the U.S. presidential election to be counted on November 5, there is also deep-rooted concern about the tense situation in the Middle East, leading to a growing movement to divert funds to gold, which is considered a relatively safe asset. (joint)

Source: Japanese