As investors turned their attention to the upcoming US election, the price of gold rose to a record high. Polls predict that with less than three weeks until the general election, the competition between the two sides will be evenly matched. Analysts on UBS Global Wealth Management's Chief Investment Officer Mark Highfield's team said uncertainty and volatility are expected to rise before the next US administration decides. In a volatile trading environment, gold and oil can be effective portfolio hedging tools. Delegates attending the London Bullion Market Association Miami conference expect that by the end of October next year, the price of gold will rise to 2917.40 US dollars/ounce, which is about 10% higher than the current level. Precious metals rose across the board today. Spot gold is now up 0.56% and silver is up 1.23%.

As investors turned their attention to the upcoming US election, the price of gold rose to a record high. Polls predict that with less than three weeks until the general election, the competition between the two sides will be evenly matched. Analysts on UBS Global Wealth Management's Chief Investment Officer Mark Highfield's team said uncertainty and volatility are expected to rise before the next US administration decides. In a volatile trading environment, gold and oil can be effective portfolio hedging tools. Delegates attending the London Bullion Market Association Miami conference expect that by the end of October next year, the price of gold will rise to 2917.40 US dollars/ounce, which is about 10% higher than the current level. Precious metals rose across the board today. Spot gold is now up 0.56% and silver is up 1.23%.