Gold may flirt with 2,800 in coming days analyst
US job openings at 1400 GMT
Traders see a 97 chance of a 25 bps US rate cut in November
Palladium hits tenmonth high

Oct 29 Reuters Gold prices hovered near alltime high levels on Tuesday, aided by a softer U.S. dollar and U.S. election jitters, while focus was also on a series of economic data.

Spot gold was up 0.3 to 2,750.99 per ounce as of 0838 GMT, just shy of a record high of 2,758.37 hit last Wednesday.

U.S. gold futures gained 0.3 to 2,763.30.

Gold bulls appear to be taking advantage of the recent pause in the U.S. dollar39;s and yields ascent, while still enjoying the tailwinds from Fed rate cut expectations and U.S. election risks, said Han Tan, chief market analyst at Exinity Group.

Gold should retain its upward bias and may even flirt with 2,800 in the days ahead, as long as U.S. election risks continue weighing on market sentiment while Fed rate cut expectations remain intact.

With the Federal Reserve39;s rate decision due on Nov. 7, investors will be scrutinizing U.S. job openings at 1400 GMT, ADP employment on Wednesday, U.S. Personal Consumption Expenditures on Thursday, and payrolls report on Friday to gauge their influence on the U.S. central bank39;s move.

Markets are pricing in about 97 chance of a 25basispoint rate cut by the Fed, according to CME39;s FedWatch Tool.

Bullion thrives in a low interest rate environment and is considered a hedge against political and economic uncertainty….