Muscat: Spot gold rose 0.2% to $3,540.64 per ounce, while U.S. gold futures for December delivery advanced 0.4% to $3,607.60. The rally comes as traders, closely tracking the CME FedWatch tool, assign a 92% probability that the Fed will reduce rates by 25 basis points at its September 17 meeting.
The anticipation of lower borrowing costs has fueled demand for bullion.
Meanwhile, other precious metals showed mixed performance. Spot silver slipped 0.2% to $40.81 per ounce. Platinum edged up 0.6% to $1,412.30, while palladium gained 1% to reach $1,145.69.
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