2025 gold price targets around 3,000 or higher analyst
Gold hit a record of 2,758.37 on Wednesday
Palladium gains over 5
US urges G7 to sanction Russian palladium, titanium Bloomberg

Oct 24 Reuters Gold prices drifted higher on Thursday, propped up by safehaven demand, while palladium hit a more than onemonth peak after a media report sparked fears of sanctions on Russian supplies.

Spot gold rose 0.7 to 2,735.26 per ounce by 0740 GMT, slightly below the record high of 2,758.37 hit on Wednesday, as U.S. election jitters and Middle East tensions boosted demand.

U.S. gold futures gained 0.7 to 2,747.90.

The U.S. dollar hovered near threemonth highs, limiting gold39;s potential for a further rally. A stronger dollar makes gold more expensive for other currency holders.

U.S. Vice President Kamala Harris and Republican candidate Donald Trump are in a tight race, with less than two weeks until the Nov. 5 presidential elections.

Elsewhere, Israel launched strikes on the Syrian capital Damascus and a military site near the western city of Homs.

For the rest of 2024, we see potential highs of 2,800, with 2025 targets around 3,000 or higher, driven by continued geopolitical risks, U.S. monetary easing cycle and central bank purchases, said Sugandha Sachdeva, founder of New Delhibased research firm SS WealthStreet.

U.S. economic activity remained steady from September through early October, with a slight rise in hiring, hinting at a likely 25basispoints Federal…