09:36 AM EST, 11/05/2024 (MT Newswires) -- Gold prices rose early Tuesday on a weaker dollar and safe-haven buying on the final day of voting in a tight U.S. election.

Gold for December delivery was last seen up US$9.50 to US$2,755.70 per ounce.

The rise comes ahead of the end of voting in the U.S. election, with polls showing a tight race between Vice-President Kamala Harris and former president Donald Trump. Harris is expected to mostly continue the Biden Administration's economic policies while Trump has promised blanket tariffs on U.S. imports.

Thursday's interest-rate decision from the Federal Reserve's policy committee is also offering support. The central bank is widely expected to cut rates by 25 basis points, following on their previous 50 point cut. Lower interest rates cut the carrying cost of owning the precious metal.

The dollar fell early on Tuesday, with the ICE dollar index last seen down 0.12 points to 103.76.

Treasury yields rose, with the U.S. two-year note last seen paying 4.193%, up 2.3 basis points, while the yield on the 10-year note was up 3.4 points to 4.323%.