Muscat: Spot gold rose 0.9 percent to $3,392.90 per ounce, while US gold futures edged up 0.2 percent to $3,399.80. The uptick follows warnings from the Federal Reserve about mounting inflationary pressures and uncertainties in the job market, prompting a shift towards safe-haven assets.
While gold remains below its record high of $3,500.05 reached on April 22, today’s gain reflects ongoing investor caution amid a volatile global economic outlook. Market participants are also closely watching upcoming discussions between the US and China, which could significantly impact global trade dynamics and market sentiment.
In the broader precious metals market, spot silver jumped 1.2 percent to $32.85 per ounce. Platinum saw a 0.9 percent increase, trading at $982.81, while palladium slipped 0.3 percent to $969.93.
Read More
- Nifty, Sensex end lower as Iran sanctions, high crude and rising bond yields weigh on sentiment
- Oman oil price falls $2.22 to $97.39 per barrel
- Meethaq Islamic Banking Platinum Sponsor of the 16th National General Assembly for Medical Students
- Oman FSA issues new regulation on insurance loss assessment
- Oman’s public revenue jumps 13% to RO 6.6 billion in first half of 2026
