Gold climbed to a fresh record as the approaching US election and conflict in the Middle East boosted haven demand.

(Bloomberg) -- Gold steadied near a record high, as it receives sustained haven demand with investors monitoring the approaching US election and conflict in the Middle East. Most Read from Bloomberg Climate Change Is Killing Buildings in Slow Motion How ...

Gold hit an all-time peak on Tuesday as factors including safe-haven demand, spurred by U.S. election uncertainties and the Middle East war, combined with expectations of further monetary easing to amplify bullion's surge.

Spot gold XAU= gained 0.7% to $2,739.50 per ounce, as of 9:50 a.m. ET (1350 GMT), after hitting a record $2,740.37 earlier in the session. U.S. gold futures GCv1 were 0.7% higher at $2,750.00. Bullion,

Up roughly 30% in the past year, the metal has attracted a growing chorus of experts who believe its rise will continue long-term.

Gold rose — approaching Monday’s record high — with haven demand driving bullish sentiment as traders monitored geopolitical risks including conflict in the Middle East and the US election that’s less than two weeks away.