Gold prices gain in early trade

Gold prices rose on Monday, December 9, 2024, supported by renewed gold purchases from China’s central bank after a six-month pause, as investors awaited U.S. inflation data later this week for insights into the Federal Reserve’s next steps.

Spot gold prices increased at 7:34 GMT by 0.62 per cent to $2,649.30 per ounce, compared to the previous closing price of $2,632.91.

Meanwhile, US gold futures saw a rise of 0.37 per cent to $2,669.49, compared to Thursday’s closing of $2,659.6.

Attribution: Amwal Al Ghad English, Reuters

Subediting: M. S. Salama