Gold today rose for a third straight session to its highest in more than two months:ate outlook. Spot gold climbed 1% to $4,432.74 per ounce, hitting its highest level since June 5, while US gold futures rose 1.7% to $4,492.60.
According to Oman News Agency, among other metals, spot silver rose 0.9% to $66.30 per ounce, platinum gained 0.7% to $1,765.26 and palladium climbed 0.8% to $1,394.00. The gains in precious metals come as market participants await key inflation data that could influence the Federal Reserve's interest rate decisions, impacting the attractiveness of non-yielding bullion.
The increase in gold prices reflects investors' cautious optimism and their hedging strategies against potential economic fluctuations. As inflation data is released, it will offer insights into the future trajectory of interest rates, which can significantly affect the demand for precious metals.
