Gold prices keep rising to approach $2,750 per ounce

Gold prices continued their big gains, recording their highest level ever, and the yellow metal contracts for December delivery are approaching $2,750 per ounce.

The yellow metal prices are rising in conjunction with the uncertainty regarding the results of the US presidential elections, as well as the situation in the Middle East, in addition to the expected decision by the US Federal Reserve regarding the interest rate.

Traders expect a 99% chance that the Federal Reserve will cut interest rates in November. The European Central Bank cut interest rates by 25 basis points last week.