Muscat: Gold prices stabilized near all-time highs on Monday, supported by growing expectations that the US Federal Reserve will cut interest rates this month following weaker-than-expected jobs data. Gold's steadiness reflects investor anticipation of potential monetary policy changes.
According to Yemen News Agency, spot gold was steady at $3,581.69 per ounce, while US gold futures for December delivery fell 0.7% to $3,624.70. This stability in spot gold prices and the minor decline in futures demonstrate the market's cautious outlook amid economic signals.
Among other precious metals, silver experienced a slight decline of 0.3% to $40.84 per ounce. Platinum also saw a minor dip of 0.1%, bringing its price to $1,371.65, while palladium decreased by 0.2% to $1,107.70. These movements in the precious metals market highlight the broader impact of anticipated rate cuts.