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Gold is continuing to rally, and has hit a new alltime high early this morning.

The spot price of gold is up 0.4%, or around $10 per ounce, to $2,732.73 per ounce, meaning it has now risen by over 32% during 2024.

“Geopolitical instability, sluggish economic growth in key regions, a shift in central bank policies towards lower interest rates, and most recently, uncertainty surrounding the U.S. presidential election have all contributed.”

“Rumours that Donald Trump may be on the verge of winning the election have further fuelled demand for gold, driving it to historical highs. Faced with the possibility of a second term for the Republican candidate, markets are turning to gold, the ultimate safe-haven asset.”