MUSCAT : Spot gold rose 0.7% to $4,227.15 per ounce as of 0809 GMT, marking its strongest level since October 21. U.S. gold futures for December delivery also gained ground, rising 0.4% to $4,232.30 per ounce.
Lower interest rates typically support gold, which offers no yield but is widely viewed as a safe-haven asset during times of economic uncertainty. The metal has surged 60% so far this year, reaching a record $4,381.21 on October 20, driven by geopolitical tensions, slowing growth, rising ETF inflows, and expectations of continued rate cuts.
Silver also advanced, with spot prices climbing 1.4% to $54.14 per ounce, moving closer to its record level reached on October 17. Among other precious metals, platinum edged up 0.1% to $1,616.29, while palladium gained 0.9% to $1,487.50.
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