The price of gold is struggling between $2750 and $2720 due to safe-haven demand influenced by tensions in the Middle East and U.S. election concerns.
Despite a modest decline in the U.S. dollar providing some support for gold, various factors like looming interest rate cuts and rising Treasury yields exert pressure on prices.
The market remains cautious as traders await key U.S. macroeconomic data, leading to uncertainties that dampen the bullish momentum for gold prices.
Political elements significantly impact gold prices, especially with polls showing a tight race between candidates, leading to concerns over potential deficit spending post-elections.
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