WASHINGTON (dpa-AFX) - Gold traded near record levels on Tuesday amid geopolitical uncertainties and ahead of the U.S. election that's less than two weeks away.
Concerns about slowing Chinese growth also offered some support and offset pressure from a firmer dollar and elevated Treasury yields.
Spot gold rose 0.4 percent to $2,730.56 per ounce, while U.S. gold futures were up 0.3 percent at $2,745.70.
Bullion is seeing safe-haven demand due to the worsening conflict in the Middle East and uncertainty around the approaching U.S. election.
U.S. Secretary of State Antony Blinken has arrived in Israel to revive Gaza ceasefire talks following the death of Hamas leader Yahya Sinwar, but any breakthrough looks elusive.
Israel is accelerating military operations to push Hezbollah away from its northern border while thrusting into Gaza's densely packed Jabalia refugee camp in an attempt to seal off northern Gaza from the rest of the enclave.
The U.S. dollar clung to a two-and-half-month high due to improved prospects for a Trump Presidency and uncertainty about the Fed rate path.
With about two weeks left before the Nov. 5 election, Treasury yields remained elevated on concerns about the path of the U.S. deficit regardless of which candidate wins the race for the White House.
According to the CME FedWatch Tool, the chances of a 25-basis point December Fed rate cut dropped from 76.8 percent to 64.8 percent over the previous week.
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