11:36 - 17.10.2024

---

October 17, Fineko/abc.az. Gold has once again rushed to new records, anticipating an intense struggle for the US presidency, ABC.AZ informs, referring to Bloomberg.

In 2024, gold became one of the most efficient commodities, due to its attractiveness as a safe asset and active purchases by central banks. Amid the uncertainty of the outcome of the U.S. presidential race, gold is receiving additional support as investors review their portfolios.

The dollar strengthened after Donald Trump's statement in an interview with Bloomberg News about plans to raise tariffs, lower taxes and ease regulation, as well as establish closer cooperation with the Fed. In the options markets, traders are focused on the Fed's interest rate cuts and the state of the U.S. economy.

Analysts at UBS Group AG expect an increase in uncertainty and volatility before the election, advising the use of gold and oil as effective hedging tools. Wall Street experts believe that Trump's trade policy will support the dollar, as import tariffs may limit the outflow of currency abroad and lead to an increase in inflation and interest rates.