Global Gold Prices Rise

SadaNews Economy - Gold prices rose last night after the release of U.S. inflation data that aligned with expectations, bolstering bets on a Federal Reserve interest rate cut later this year.

Gold climbed in spot transactions (0.8%) to (3777.79) USD per ounce, after hitting a record level of (3790.82) USD earlier in the week, marking weekly gains of about (2.5%). U.S. futures contracts for December increased (1%) to (3807.90) USD.

In other precious metals, silver rose (1.2%) to (45.76) USD per ounce, the highest level in over (14) years, palladium increased (1.7%) to (1271.46) USD, while platinum surged (2.7%) to (1570.45) USD, reaching its highest level in over (12) years.