Gold prices hit daily highs ahead of U.S. presidential election

Gold prices continue to hit record highs as investors flock to the spread of tensions in the Middle East and expectations for a key U.S. rate cut.

According to Bloomberg News and others, gold futures were priced at $2,790.10 an ounce at the beginning of the 31st local time, slightly above the record high recorded the previous day.Spot prices for

gold also rose 0.1% to $2,789.04 an ounce at 9:11 a.m. Singapore gold market.

Gold, which is considered a safe asset, has risen more than 30% this year as individual buying has been driven by anxiety over market volatility.

In particular, market instability has been amplified due to a fierce and unpredictable close race in the U.S. presidential election, which will take place on the 5th of next month.

At the end of the presidential election, risk could also be resolved, leading to gold prices being adjusted above $100 an ounce, market experts predict.