Gold Rises on Hopes of U.S. Rate Cuts

Sana'a: Gold prices rose slightly on Monday, supported by the prospect of a US interest rate cut in the coming period, as investors awaited the release of US inflation data and U.S-China trade talks this week to determine the future direction of the markets. Spot gold rose 0.3% to $4,264.49 per ounce, after falling about 1.8% on Friday, the largest decline since mid-May. US gold futures for December delivery rose 1.5% to $4,280.30 per ounce. According to Yemen News Agency, spot silver also rose 0.5% to $52.08 per ounce, after falling about 4.4% in the previous session, its largest decline since early April, after hitting an all-time high of $54.47 per ounce. As for other precious metals, platinum fell 1.1% to $1,591.55 per ounce, and palladium fell 0.5% to $1,467.16 per ounce.