Gold settled above $2,700/oz for the first time on Friday, extending a rally driven by uncertainty over the Middle East conflict and the tight U.S. presidential election race, as well as expectations of further central bank interest rate reductions,

Gold hit another record high amid simmering geopolitical unease in the Middle East. Futures climbed as much as 1% to $2,720 an ounce on Friday as the death of Hamas leader Yahya Sinwar late Thursday spurred renewed concerns of further geopolitical tension.

Gold topped $2,700 an ounce for the first time as concerns over escalating conflicts in the Middle East and a tight US election race prompt investors to flock to safety.Bullion climbed as much as 1% to $2,

Gold prices hit a record high above $2,700 on Friday as traders piled into the safe-haven commodity at a time of heightened geopolitical uncertainty, including in the Middle East after Israel said it killed Hamas chief Yahya Sinwar.