MUSCAT : Investors are also closely watching for signals on the Federal Reserve’s interest rate policy.
Spot gold rose 0.1% to $2,914.42 per ounce, while U.S. gold futures gained 0.3% to $2,921.90. Analysts note that while gold traditionally thrives during economic and political uncertainty, prolonged high interest rates can curb its appeal as a non-yielding asset.
Among other precious metals, market movements were mixed:
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- Oman oil price drops by 5.45 US dollars
- Oman’s manufacturing sector targets RO 10.7 billion contribution by 2040
- Asia-Pacific airlines including India may keep fares high despite easing jet fuel prices as demand stays resilient: S&P
- Bank of Beirut to exit Oman after 20 years, depositors given 60 days to settle accounts
- Omantel’s Otech, DeepAstra launch sovereign AI platform in Oman
Silver rose 0.1% to $32.56 per ounce
Platinum remained steady at $962.90
Palladium dipped 0.2% to $946.30
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