Gold Rises and Continues Gains for the Fourth Month

SadaNews Economy - Gold prices rose during trading on Friday, and the yellow metal remained on track to register monthly gains for the fourth consecutive time, supported by a decline in the dollar and investor optimism about the Federal Reserve's potential interest rate cut next December.

Spot gold rose by 0.8% to reach $4189.61 per ounce, marking its highest level since November, heading towards achieving a weekly gain of 3%, and is set to end the month with a rise of 3.9%.

U.S. gold futures for December increased by 0.5% to record $4221.30 per ounce, according to CNN.

As for other precious metals, spot silver rose by 1.4% to $54.18 per ounce, and platinum increased by 1.7% to $1634.82, achieving weekly gains of 7.4%. Meanwhile, palladium fell by 0.6% to $1428.62, yet it is still on track to achieve a weekly gain of 4%.