Gold hit an all-time high in early trading Wednesday above $2,775 amid risk-on mood and falling US Treasury yields.
Economic data releases on Tuesday were mixed and investors are increasingly confident that the Federal Reserve (Fed) will lower lending rates at its November meeting.
At 9.25am, the price of gold was at $2,777.67, up 0.12% since it opened in early trading on Wednesday in the Asian session.
The US Department of Labor revealed that September's Job Openings and Labor Attainment Survey (JOLTS) fell to the lowest level in three and a half years, missing expectations.
Meanwhile, October's Conference Board (CB) Consumer Confidence showed the most encouraging gain since March 2021.
Markets are now preparing for a busy economic situation in the United States (US) as the data will be in focus with investors looking for clues to the Federal Reserve's (Fed) monetary policy path.
In addition, investors are also keeping a close eye on the upcoming US election on November 5.
For now, the price of gold remains at its peak supported by the ongoing conflict in the Middle East and the escalation in Ukraine following reports that North Korea has sent its troops into Russia.
