New york: Gold prices remained near a historic peak today, driven by growing anticipation of a forthcoming interest rate cut by the US Federal Reserve. The precious metal edged closer to the significant $3,600 mark, buoyed by last week’s unexpectedly weak jobs report.
According to Oman News Agency, spot gold settled at $3,586.81 per ounce after reaching an unprecedented $3,599.89 on Friday. In contrast, US gold futures for December delivery experienced a slight decline, falling 0.7% to $3,626.10.
In the broader precious metals market, spot silver saw a minor decrease of 0.3% to $40.84 per ounce. Likewise, platinum experienced a modest drop of 0.1% to $1,371.65, and palladium decreased by 0.2% to $1,107.70.