Stability of Gold Prices and Global Oil Increase

SadaNews Economy - Gold prices stabilized today, Friday, in the spot markets at (4208.46) dollars per ounce, heading for a weekly decline of (0.5%), while U.S. gold futures for December delivery fell by (0.1%) to (4237.70) dollars per ounce.

As for other precious metals, silver rose by (0.5%) to (57.40) dollars per ounce after reaching a record high at (58.98) dollars on Wednesday, heading for weekly gains. Platinum fell by (0.4%) to (1640.25) dollars, trending towards a weekly loss, while palladium increased by (0.9%) to (1461.67) dollars, heading to finish the week higher.

Oil prices rose at the end of trading yesterday, Thursday, supported by expectations of a rate cut by the U.S. Federal Reserve; boosting hopes for a demand boost for crude in the largest global economy.

Brent crude futures rose by (59) cents, or (0.94%), reaching (63.26) dollars per barrel, while West Texas Intermediate crude increased by (1.22%), equivalent to (72) cents, recording (59.67) dollars per barrel.