Gold prices are advancing to an all-time high on Friday as the dollar weakened amid prospects of a US interest rate cut next week. Spot gold rose to $2,558.19 per ounce, after hitting a record high of $2,567.93 earlier in the session. Bullion has gained 2.7% for the week so far. US gold futures rose 0.2% to $2,586.60. Gold prices rose more than 1% to hit a record high on Thursday, after US data signaled a slowing of the economy. The dollar fell to a one-week low, making gold less expensive for other currency holders. Spot silver edged 0.1% higher to $29.94 per ounce, and platinum gained 0.8% to $985.20, while palladium climbed 0.08% to $1,055.64. Source: Qatar News Agency
Related Posts
Bahrain Chamber of Commerce and Industry Chairman: The key driver for economic growth is investment
Sameer Abdulla Nass, chairman of the Bahrain Chamber of Commerce and Industry (BCCI), affirmed the importance of investing in human capital, as a key driver for achieving the intended economic growth and increasing the production process.Nass pointed …
Oman’s GDP Rises in Q1 of 2024
The Gross Domestic Product (GDP) at current prices for the Sultanate of Oman at the end of the first quarter of 2024 recorded an increase of 0.8 percent, reaching OR 10.442 billion, compared to the same period in 2023, which amounted to OR 10.362 bill…
Prime Minister Sends Condolences to Sudan’s Chairman of Transitional Sovereignty Council
HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani sent a cable of condolences on Tuesday to HE Chairman of the Transitional Sovereignty Council of the Republic of the Sudan Lieutenant General Abdel F…