16 Hrs
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Sharjah24
Gold gains 0.6% amid US rate outlook
Gold prices rose today, Thursday, by 0.6% to reach their highest level in over two months at $4,433.62 per ounce, supported by a decrease in expectations of a US interest rate hike following the release of US inflation data. Other precious metals also saw mixed gains, with silver increasing by about 1% to $65.91, platinum rising by 0.3% to $1,762.70, and palladium edging up by 0.1% to $1,371.20. The reason behind the rise is the reduced expectations of the Federal Reserve raising US interest rates, as recent inflation data has lessened the likelihood of an imminent rate hike.
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