MUSCAT : Spot gold edged up 0.1% to $2,664.30 an ounce, while U.S. gold futures gained 0.4% to $2,681.80, continuing an upward trend spurred by expectations around Federal Reserve interest rate policy.
Gold’s rise follows a weaker-than-expected U.S. private sector employment report earlier this week, which signaled the Federal Reserve might adopt a less aggressive approach to interest rate hikes in 2025. With the latest jobs data set to provide further insight, markets remain on edge.
Adding to the anticipation is the upcoming January 20 inauguration of U.S. President-elect Donald Trump. His proposed protectionist policies are expected to spur inflation, reinforcing gold’s role as a hedge against rising prices. However, higher interest rates typically reduce the appeal of non-yielding assets like gold.
Read More
- Indian Railways to replace LPG, diesel with PNG at 22 sites under pact with IGL
- Oil rises on supply fears as Middle East attacks escalate
- Oman’s standard government contracts initiative aims to boost public spending efficiency
- World Bank forecasts 23% rise in global commodity prices in 2026
- Oman signs 28 investment deals worth more than RO 304 million
Meanwhile, the World Gold Council reported a notable milestone: gold-backed exchange-traded funds (ETFs) experienced their first inflow in four years, signaling renewed investor interest.
In the broader precious metals market, spot silver gained 0.2% to $30.17 an ounce. However, platinum dipped 0.3% to $952.54, and palladium slid 0.8% to $921.37.
For all the latest news from Oman and GCC, follow us on Twitter, Instagram and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.
