Muscat: Gold prices rose today, supported by lower crude oil prices and a weaker dollar: Gold prices experienced an increase, with spot gold climbing 0.4% to $4,450.16 per ounce. Concurrently, US gold futures for August delivery saw a rise of 0.2%, reaching $4,477.
According to Oman News Agency, other precious metals also witnessed gains. Spot silver increased by 0.8%, reaching $73.26 per ounce. Platinum and palladium also saw upward movements, with platinum gaining 0.2% to hit $1,863.25, and palladium climbing 0.5% to $1,307.67.
The rise in gold prices is attributed to the decline in crude oil prices and a weaker dollar, factors that typically make gold a more appealing investment. The movements in the prices of silver, platinum, and palladium further reflect the broader trend within the precious metals market.