Gold Breaks $2,700 Barrier for First Time on Safe Haven Demand

GOLD - NEW YORK. Gold raced past the $2,700 mark for the first time on Friday, extending a rally driven by expectations of further monetary policy easing and safe-haven demand due to uncertainty about the U.S. presidential elections and Middle East conflicts.

Spot gold rose 0.7% to $2,711.75 per ounce by 0933 GMT, having hit an all-time high of $2,714.00 earlier in the session. Bullion has gained over 2% so far this week. U.S. gold futures gained 0.7% to $2,726.90.