Muscat: Gold and silver prices surged to record highs today, supported by expectations of a US Federal Reserve interest rate cut in September. Spot gold rose 0.8% to $3,475.72 per ounce, its highest level since April 23, while US gold futures for December delivery gained 0.9% to $3,546.10.
According to Oman News Agency, silver climbed above $40 per ounce for the first time in more than a decade, rising 2% to $40.44, the highest level since September 2011. Among other precious metals, platinum added 0.8% to $1,375.41, while palladium advanced 1.1% to $1,121.09.