Sana'a: Gold prices rose on Saturday, supported by expectations that the Federal Reserve (the US central bank) will cut interest rates next week, while silver prices climbed to a record high. Spot gold rose 1% to $4,212.16 an ounce, but is on track for a weekly loss of 0.4%.
According to Yemen News Agency, silver also rose 2.6% to $58.59, marking a 4% increase for the week, after hitting a record high of $59.32 earlier.
Silver has jumped 98% this year, supported by a supply deficit and its inclusion on the list of critical metals in the United States. Platinum held steady at $1,646.10, while palladium rose 0.3% to $1,453.39.
Economists expect the Federal Reserve to cut interest rates by 25 basis points at its meeting on December 9th and 10th.