Muscat: Although spot gold dropped 0.2 percent to $2,653.38 an ounce today, the precious metal remains close to last Thursday’s all-time high of $2,685.42.

Since the start of the current quarter, gold has surged more than 14 percent, marking the best quarterly performance since January 2016. This remarkable rise includes a 6 percent increase in September alone, driven by the US’s half-percentage-point interest rate cut, economic stimulus measures in China, and ongoing concerns surrounding the conflict in the Middle East.

In related markets, other precious metals also experienced mixed results today. Spot silver decreased by 0.4 percent to $31.49 an ounce, while platinum dipped 0.1 percent to $999.35. On a brighter note, palladium saw a slight increase of 0.1 percent, rising to $1,012.50.