Oil Prices See Uptick as Gold Retreats from Record High

Sana'a: Oil prices rose on Thursday, ending a three-day losing streak and recovering from a 16-week low, while gold prices retreated after hitting a record high in the previous session. Brent crude futures rose 15 cents, or 0.2%, to $65.50 a barrel, while US West Texas Intermediate crude rose 14 cents, or 0.2%, to $61.92 a barrel. According to Yemen News Agency, gold prices retreated today after reaching their highest level in the previous session. The decline was attributed to profit-taking and a slight strengthening dollar, though gold received some support from expectations of further US interest rate cuts and political uncertainty. In spot trading, gold fell 0.2% to $3,858.50 per ounce, after hitting an all-time high of $3,895.09 on Wednesday. US gold futures for December delivery fell 0.4% to $3,883.60, while the dollar index rose 0.1% against rival currencies, making gold more expensive for holders of other currencies. Among other precious metals, spot silver fell 0.5% to $47.07 per ounce, platinum fe ll 0.3% to $1,552.05, and palladium rose 1% to $1,256.93.