MUSCAT : Spot gold traded at $3,413.80 per ounce, holding close to the peak reached on July 23. U.S. gold futures for December delivery also rose, settling at $3,473.80. The precious metal has gained about 3.6 percent since the start of August.
The rally followed a 0.4 percent dip in the dollar index during Wednesday’s session, making gold more attractive for investors holding other currencies. Markets are now widely anticipating a 25-basis-point rate cut at the Fed’s next policy meeting — a move that typically boosts non-yielding assets like gold.
While gold prices held firm, other precious metals saw mixed movement. Spot silver edged down 0.1 percent to $39.02 per ounce, platinum slipped 0.2 percent to $1,356.69, while palladium was steady at $1,102.75.
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