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Gold Prices Set for Monthly Gain on US Rate Cut Hopes

Gold Prices Set for Monthly Gain on US Rate Cut Hopes

Singapore, Gold prices firmed today, heading for a monthly gain on the back of growing optimism about US interest rate cuts. Spot gold was up 0.4% at $2,416.79 per ounce, and has gained nearly 4% for the month. US gold futures added 0.5% to $2,414.80. Spot silver rose 0.7% at $28.60 per ounce today. Platinum gained 1% to $968.80 and palladium edged 1.3% higher to $900.21. However, both the metals headed for monthly decline. Source: Oman News Agency