Doha: Gold prices held steady on Monday, as investors prepared for a crucial week for the global economy, marked by the US presidential election and the likelihood of further interest rate cuts. Spot gold edged up by 0.1% to $2,738.29 per ounce, while US gold futures remained flat at $2,747.50. According to Qatar News Agency, traders currently anticipate a 98% chance of a quarter-basis-point Fed rate cut this week, as indicated by the CME FedWatch tool. Alongside gold, spot silver saw an increase of 0.4% to $32.5443 per ounce. Meanwhile, platinum experienced a slight decrease of 0.1% to $991.72, and palladium gained nearly 1%, reaching $1,108.36.
Tuesday, November 05, 2024
