Gold hit an all-time high above US$2,790 in October, supported by the Fed’s pivot to easing, haven demand, and central-bank buying.
Prices — which have rallied more than 30% this year — enjoyed a lift in recent sessions after the People’s Bank of China resumed purchases after a six-month pause.
Technical factors were also helping bullion, with trading volumes increasing as futures this week “convincingly” broke out of a consolidation phase, according to Pepperstone Group head of research Chris Weston.
Gold for immediate delivery was little changed at US$2,698.67 an ounce at 8.38am in Singapore, following a 1.3% gain on Tuesday.
See also: Gold climbs to record as expanding trade war aids haven demand
The Bloomberg Dollar Spot Index was little changed. Silver edged up toward US$32 an ounce, while platinum and palladium were steady.
