The Financial Post reports in its Thursday edition that gold prices have surged toward a record high as investors focus on the upcoming U.S. election. A Bloomberg dispatch to the Post reports that gold has been one of the top-performing commodities this year. Gold is getting support as investors across various financial markets adjust their portfolios in response to the uncertainty surrounding the presidential race outcome. On Tuesday, the U.S. dollar strengthened after Donald Trump announced his intention to sharply raise tariffs, cut taxes and regulations, and engage in more direct discussions with the U.S. Federal Reserve. Meanwhile, traders in options markets are increasingly focused on the Fed's interest-rate cuts and the health of the U.S. economy, according to market veterans. UBS analysts noted that "we anticipate uncertainty and volatility to rise until the next U.S. administration is finalized." They suggested that "gold and oil can serve as effective hedges in a volatile trading environment." The consensus is that Trump's proposed trade policies could ultimately strengthen the U.S. dollar. Import tariffs would limit the currency's outflow overseas, potentially driving up inflation and interest rates.