Gold prices steadied in early trading on Monday, as investors prepared for a crucial week for the global economy with the US presidential election and the possibility of further interest rate cuts.
Update prices
Spot gold was up 0.1 percent at $2,738.29 per ounce by 0012 GMT. The precious metal hit an all-time high of $2,790.15 on Thursday.
US gold futures settled at $2,747.50.
Hours before the US presidential election tomorrow, Tuesday, opinion polls reveal a fierce competition between Democratic candidate Kamala Harris and Republican Donald Trump, which could significantly affect gold prices.
Markets are awaiting this week's decision by the Federal Reserve (the US central bank) on cutting interest rates and statements by Federal Reserve Chairman Jerome Powell and other bank officials.
The FedWatch tool showed that economists expect a 98 percent chance that the Federal Reserve will cut interest rates by a quarter percentage point this week.
As for other precious metals, spot silver prices rose 0.4 percent to $32.54 per ounce, platinum fell 0.1 percent to $991.72, while palladium rose 0.1 percent to $1,108.36, according to Reuters data.
