Muscat: Gold prices today surged to a historic peak, buoyed by rising expectations of additional US interest rate cuts and a softer dollar. Spot gold rose 0.2% to $3,752.43 per ounce, touching an all-time high of $3,758.03 earlier in the session. US gold futures for December delivery climbed 0.3% to $3,787.60.
According to Oman News Agency, the US dollar index was down 0.1%, making greenback-priced gold cheaper for overseas buyers. Safe-haven gold, typically strong in a low-interest-rate environment, has climbed nearly 43% so far this year, supported by geopolitical and economic uncertainty, sustained central bank purchases, and monetary policy easing.
In other precious metals, spot silver fell 0.2% to $43.98 per ounce. Platinum gained 0.3% to $1,420.45, and palladium rose 0.9% to $1,189.84.