Muscat: Spot gold remained stable at $3,310.61 per ounce, while August gold futures slipped 0.5 percent to $3,330.65 per ounce. The precious metal’s resilience follows a period of strong gains, driven largely by concerns over economic stability in the United States and continued pressure on the U.S. dollar, which has made gold more attractive to investors seeking safer stores of value.
Meanwhile, silver futures edged up by 0.2 percent to $36.205 per ounce, staying near last week’s 14-year high.
In the industrial metals sector, copper prices also showed stability, reflecting mixed sentiment after recent rallies. The market was influenced by weak Chinese economic data, which stoked fears of slowing demand from the world’s top copper consumer.
Read More
- 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
- Gold prices edge higher as markets await US Federal Reserve decision
- Bank Muscat showcases its banking solutions at “Happy City Journey” as part of Urban October 2026
Benchmark copper futures on the London Metal Exchange rose 0.1 percent to $9,698.70 per ton, while U.S. copper futures remained flat at $4.8508 per pound.
