Gold prices held steady today, with investors awaiting key US inflation data due later this week to gauge the size of the Federal Reserve's likely interest rate cut in September 2024. Spot gold was little changed at $2,425.94 per ounce, and US gold futures slipped 0.3% to $2,464.80. The US producer price index (PPI) is due tomorrow (Tuesday), followed by consumer price index (CPI) after tomorrow (Wednesday). As for other precious metals, spot silver fell 0.6% to $27.29 per ounce, platinum edged 0.1% higher to $923.20, and palladium was nearly unchanged at $905.00. Source: Oman News Agency
Related Articles
Program Launched to Enhance Project Management Efficiency, Develop Contract System
Muscat: The Projects, Tenders and Local Content Authority, in cooperation with the Small and Medium Enterprises Development Authority (Riyada), today launched a program named “Imkan Plus”. This is one of the developmental initiatives aimed at raising …
Oman and Belarus Explore Industrial and Investment Collaboration
Minsk: The Sultanate of Oman and the Republic of Belarus engaged in discussions to enhance cooperation in industry and investment sectors. This initiative aims to strengthen economic partnerships and expand industrial collaboration between the two nat…
Dollar Holds Near Multi-Week Highs Ahead of Fed Rate Decision
Muscat: The dollar held firm today, trading near multi-week highs against major currencies as investors awaited the Federal Reserve’s monetary policy decision, with investors increasingly betting on the first in a potential series of interest rate hik…