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Gold gains as oil falls and rate outlooks improve
Gold prices rose slightly during today's trading session, supported by a decrease in oil prices which eased inflation fears, amid investors' anticipation of the U.S. Federal Reserve's decisions regarding interest rates. Spot gold gained 0.2%, reaching $4,172.87 per ounce, while December futures increased by 0.3% to $4,193.30 per ounce, despite the rise in the dollar index and ongoing demand for safe-haven assets due to geopolitical tensions. Additionally, the prices of other precious metals such as silver, platinum, and palladium also increased due to both industrial and investment demand. The market expects the Federal Reserve to keep interest rates steady at its upcoming meeting, with potential for a hike in December.
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