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.

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.

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 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.

Gold and silver prices surge amid election uncertainty and geopolitical risks, with gold reaching record highs of $2,740.