Muscat: Spot gold climbed 0.4 percent to $4,131.83 an ounce, marking its strongest level since October 24, while U.S. gold futures for December delivery rose by the same margin to $4,138.70 an ounce.
The rally comes after Federal Reserve member Stephen Miran suggested that a 50-basis-point rate cut would be appropriate in December, citing easing inflation and a rise in the unemployment rate.
Adding to the market optimism, the U.S. Senate approved a settlement yesterday to end what was described as the longest government shutdown in U.S. history, restoring confidence in economic stability.
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