Gold Glitters as US Election Nerves Grow, Stocks Wilt

GLOBAL MARKET - LONDON. Gold prices hit record highs on Wednesday, defying the dollar's rise, which kept pressure on the yen and the euro, while global stocks edged lower on investors' reluctance to place major bets ahead of the U.S. election in less than two weeks.

Investors are also rethinking how much the Federal Reserve might need to cut interest rates after the most recent U.S. economic data pointed to an economy that continues to expand and create jobs.