Singapore, Nov. 4 (BNA) — Gold prices remained steady on Monday as investors braced for a significant week for the global economy, marked by the upcoming U.S. presidential election and the potential for another rate cut by the Federal Reserve.
As of 0523 GMT, spot gold increased by 0.2% to $2,741.63 per ounce. This follows a record high of $2,790.15 reached on Thursday.
U.S. gold futures held steady at $2,750.60.
The dollar index fell by 0.5%, nearing a two-week low from the previous session. A weaker dollar typically makes gold more attractive to holders of other currencies.
In addition to gold, other metals also saw gains. Spot silver rose by 0.7% to $32.66 per ounce, recovering from a two-week low earlier in the session. Platinum increased by 0.7% to $998.90, while palladium climbed 1.5% to $1,113.68.
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