2024-03-25T05:14:14+00:00
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/ Gold prices rose on Monday, with renewed bets on the Federal Reserve (US Central Bank) reducing interest rates next June, and as a result of the decline of the dollar, which enhanced the appeal of the yellow metal.
By 03:50 GMT, the spot price of gold rose 0.4% to $2,172.09 per ounce, and US gold futures rose 0.6% to $2,173.40 per ounce.
The dollar fell 0.1% against its competitors, making gold less expensive for holders of other currencies.
Markets are still eyeing imminent rate cuts from the Fed, and June seems to be the most likely time, when they are expected to pull the trigger on their first rate cut.
Gold prices rose to all-time highs on Thursday after Federal Reserve policymakers indicated they still expect to cut interest rates by three-quarters of a percentage point by the end of 2024 despite recent high inflation readings.
Silver gained 0.2% in spot transactions to $24.71 per ounce, platinum rose 1% to $902.60, and palladium rose 1.4% to $999.79.