U.S. PCE, weekly jobless claims data due at 1230 GMT
Gold hits record high of 2,790.15oz earlier in the session
Silver up over 7 for the month
Palladium on track for biggest monthly gain since Jan 2022

Oct 31 Reuters Gold prices eased on Thursday but were just shy of a record high, heading for their best month in seven as a hotlycontested U.S. presidential election race sparked safehaven demand, while the focus is also on the release of a key U.S. inflation print.

Spot gold was down 0.3 at 2,777.10 per ounce by 0841 GMT, after hitting a record high of 2,790.15 earlier in the session. Prices have firmed nearly 6 for the month so far.

U.S. gold futures dipped 0.4 to 2,789.00.

Opinion polls are too close to call a winner between Republican former U.S. President Donald Trump and Democratic Vice President Kamala Harris in the highly anticipated final phase of the U.S. election.

Underlying forces spurring demand for gold include geopolitical tensions and uncertainties about the outcome of the election, with the market remaining in a buyondips mode, said StoneX analyst Rhona O39;Connell.

Gold and the U.S. dollar are acting together as safehavens, which is not unusual in times of strife.

Gold is considered a safe investment during economic and geopolitical turmoil.

Investors are now awaiting U.S. core personal consumption expenditures PCE and weekly jobless claims data, due at 1230 GMT, while the payrolls report is on Friday.

Now, the pace of U.S rate cuts will be…