Muscat: Gold prices fell today, pressured by a stronger dollar and fading hopes for a Federal Reserve interest rate cut, as well as rising oil prices amid concerns about a prolonged US-Israel-Iran war and stronger-than-expected US jobs data. Spot gold fell 0.9 percent to $4,631.69 an ounce, while US gold futures for April delivery dropped 0.5 percent to $4,657.50 in thin trading as many markets in Asia and Europe were closed for holidays. According to Oman News Agency, other precious metals also experienced declines. Spot silver fell 1.4 percent to $71.98 an ounce, spot platinum declined 0.9 percent to $1,970.38, while palladium held steady at $1,503.52. The fluctuations in precious metal prices reflect a market response to economic indicators and geopolitical tensions impacting investor sentiment.
Related Articles
National Museum Hosts Italian Jewellery Exhibition in Muscat
Muscat: The National Museum, in collaboration with the Italian Embassy in Muscat, is currently hosting an exhibition titled “DIVA! Italian Glamour in Fashion Jewellery”, which highlights the beauty and creativity of Italian fashion.
According to Oma…
Oman-Cebu Investment Forum Strengthens Oman-Philippines Economic Ties
Muscat: The Sultanate of Oman hosted the Oman-Cebu Investment Forum today, with the participation of officials and business sector representatives from both Oman and the Republic of the Philippines. The forum was held as part of ongoing efforts to str…
Aluminium Scrap Recycling Symposium to Kick Off in Muscat
Muscat: The third edition of the Aluminium Scrap Recycling Symposium is set to commence next Wednesday in Muscat. The event, organized by Sohar Aluminium in collaboration with the Environment Authority, aims to enhance the efficiency of Oman’s alumini…