Doha: Gold prices rose for the third consecutive session on Thursday, supported by a weaker dollar and lower Treasury yields as traders’ bets on a US interest rate cut in September increase. Spot gold rose 0.4% to $3,367.53 per ounce, and gold futures for December delivery added 0.3% to $3,416.70.

According to Qatar News Agency, the dollar fell to near multi-week lows against rival currencies, making gold cheaper for holders of other currencies, while 10-year US Treasury yields held near their lowest levels in a week. This trend has bolstered traders’ confidence in gold as a safe haven, especially in light of increasing speculation about possible changes in US monetary policy.

As for other precious metals, spot silver rose 0.2% to $38.56 per ounce, indicating a modest gain. Meanwhile, platinum saw a slight decline of 0.1%, settling at $1,338.33. In contrast, palladium experienced a significant rise of 1.3%, reaching $1,136.70 per ounce, showcasing varied performances across different precious metals in the current market environment.