Sybilla Gross

(Bloomberg) -- Gold edged lower from near record-high levels after Israeli strikes on Iran over the weekend appeared to be more restrained than many expected.Most Read from BloombergThe Tartarian CandidateBooming Cambridge Exposes England’s Widening Wealth GapRobotaxis Are No Friend of Public TransportationA Courtyard Apartment Building Designed for Southwest SprawlArgentina Drug Trafficking Hotspot Sees Murders PlungeBullion traded lower near $2,739 an ounce on Monday after Israeli planes struc

Gold held a modest decline as traders prepared for key economic data that will help to set the stage for the next Federal Reserve policy decision, while the countdown to the US presidential election continued.

(Bloomberg) -- Gold advanced toward a record as traders prepared for key data that will help to set the stage for the next Federal Reserve policy decision, while the countdown to the US presidential election continued.Most Read from BloombergInside NYC’s Playbook for Getting Federal Grant FundsThere Will Soon Be No Meatpackers Left in NYC’s Historic Meatpacking DistrictThe Tartarian CandidateA Courtyard Apartment Building Designed for Southwest SprawlBooming Cambridge Exposes England’s Widening

Gold reached a record high in early Asian trading on Wednesday, as traders digested the latest US economic data and weighed potential market disruption ahead of the looming presidential election.

Global gold demand swelled about 5% in the third quarter, setting a record for the period and lifting consumption above $100 billion for the first time, according to the World Gold Council.

Die weltweite Goldnachfrage ist im dritten Quartal um rund 5% gestiegen und erreichte damit für diesen Zeitraum einen Rekordwert. Erstmals überstieg die Summe 100 Milliarden Dollar (93 Milliarden Euro), wie der World Gold Council mitgeteilt hat.

Gold traded near a record, boosted by haven demand before the US election and shrugging off data that could influence the size of Federal Reserve rate cuts this year.

Gold was steady after its biggest one-day drop since July, as traders took profits near record-high levels and strong US data weakened the case for further monetary easing.

Gold is soaring as one of the most closely contested US elections in modern history spurs a rush to haven assets, and many investors see further gains ahead.