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Gold rose on Thursday, shrugging off signals from the Federal Reserve that it could hike interest rates next month, as uncertainty over the outcome of the US presidential election hurt the dollar and upheld the safe-haven demand for bullion.
Spot gold rose 0.4 percent to $1,301.63 an ounce at 0731 GMT. The yellow metal touched a high of $1,307.76 in the previous session, its best since October 4.
US gold futures were down 0.4 percent at $1,302.40 per ounce. "Some people think that Donald Trump would become the US president and if that happens it is negative for the US dollar and positive for gold," said Jiang Shu, chief analyst at Shandong Gold Group.
Narrowing polls have led markets to price in more risk that Republican Donald Trump might defeat his Democratic rival Hillary Clinton in next week's contentious US presidential election, perhaps remembering the turmoil that followed the surprise Brexit vote.
"The tightening US election has generated enough uncertainty to propel the market higher in our view," HSBC analyst James Steel said in a note.

Copyright Reuters, 2016

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