International Economy
Increase in Global Gold Prices
SadaNews Economy - Gold prices have risen, supported by expectations that the Federal Reserve (the U.S. central bank) will lower interest rates this month and increased demand for safe-haven assets amid the ongoing U.S. government shutdown.
Gold rose in spot transactions by 0.6% to $3,887 per ounce, after hitting its highest level at $3,896.49 earlier in the session.
U.S. gold futures for December delivery also increased by 0.4% to $3,911.80.
As for other precious metals, silver rose in spot transactions by 0.8% to $47.70 per ounce, platinum jumped 1.4% to $1,579.05, while palladium remained steady at $1,244.75.
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