Gold price exceeds $2,770 level for 1st time

Gold, known as a safe haven, continues its upward trend despite geopolitical risks. (Pexels Photo)

By Anadolu, Philippine News Agency

ISTANBUL  – The ounce price of gold exceeded USD2,770 on Tuesday for the first time in history, amid uncertainties related to the US elections on Nov. 5.

The ounce price of gold saw a record high at USD2,771.73 level on Tuesday, while it is at around USD2,766 currently as of 1515GMT.

Gold, known as a safe haven, continues its upward trend despite geopolitical risks.

The ounce of gold, which started the year at USD2,065, has gained about 34 percent since the beginning of the year, which is the best performance of the last 45 years.

This performance of the precious metal is driven by the rising geopolitical risks in the Middle East, and gradual stepping back from the tight monetary policy.