Muscat: This comes after U.S. economic data hinted at cooling inflation.
Spot gold held firm at $2,621.19 an ounce, while U.S. gold futures dipped 0.3% to $2,637 an ounce. Analysts suggest that slowing inflation could ease pressure on the Federal Reserve to raise interest rates, providing support for non-yielding assets like gold.
Other precious metals showed a mixed performance. Silver rose 0.3% to $29.59 per ounce, maintaining its upward trajectory, while platinum gained 0.4% to $929.83 per ounce. In contrast, palladium slipped 0.9% to $912.21 per ounce, reflecting varied demand trends in the metals market.
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