Shares rise at open; WiseTech reviews allegations against Richard White; MinRes board maintains ‘full confidence’ in Ellison; gold at record, iron ore rebounds. Follow here for more.
Gold reached a record high, with safe-haven demand continuing to support prices as traders monitored escalating tensions in the Middle East and an increasingly tight US election race. Bullion edged higher to hit an all-time high of $US2723.33 an ounce, topping last week’s peak by a few cents, as trading opened on Monday to news that Israel is discussing its attack on Iran after a Hezbollah drone exploded next to Prime Minister Benjamin Netanyahu’s private home.
US President Joe Biden and his administration have urged the renewal of cease-fire negotiations in the region, though Israeli hardliners oppose concessions. Traders were also repositioning portfolios ahead of the US election on November 5. Polls show the contest between Donald Trump and Kamala Harris could be the closest in a generation. Investors typically seek safety in gold in times of geopolitical and economic uncertainty.
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