Gold climbed 1% to 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,

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.

Gold prices surged to a record high on Wednesday as the conflicts in the Middle East and uncertainty surrounding the upcoming U.S. election spurred demand for safe-haven assets. Spot gold hit an all-time high at $2749.

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.