MUSCAT : Spot gold remained largely unchanged, trading at $3,388.04 per ounce, while U.S. gold futures hovered near steady levels at $3,406.50.
The precious metal’s stability reflects market caution as traders await signals on interest rates from the Federal Reserve, which could impact the dollar and, in turn, gold prices.
Analysts suggest that rising geopolitical tensions in the Middle East—particularly the ongoing Iran-Israel conflict—are keeping safe-haven demand intact, preventing a major drop in prices despite a lack of strong upward momentum.
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
Meanwhile, movement among other precious metals was mixed. Spot silver dipped slightly by 0.1% to $37.22 per ounce. Platinum saw a modest rise of 0.3%, reaching $1,266.04, while palladium mirrored that increase, climbing 0.3% to $1,054.63.
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.
