Gold prices edged higher today after comments from Federal Reserve officials reinforced expectations of bigger US interest rate cuts later this year (2024). Spot gold was up 0.1% to $2,408.77 per ounce, while US gold futures rose 0.2% to $2,449.50. Bullion fell to its lowest since 26 July 2024 in the previous session, caught in a global sell-off driven by fears of a US recession. Among other precious metals, spot silver fell 0.2% to $27.23 per ounce, platinum rose 1.2% to $917.30, and palladium rose 0.9% to $857.25, after hitting its lowest since August 2018 on Monday. Source: Oman News Agency
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