Gold rises after Fed’s rate cut outlook

Gold prices increased in low-volume trading on Monday, as investors closed out their short positions following the US Federal Reserve’s conservative approach to rate cuts for 2025.

Spot gold prices rose at 6:50 GMT by 0.36 per cent to $2,630.26 per ounce, compared to the previous closing price of $2,620.79.

Meanwhile, US gold futures dropped 0.02 per cent to $2,644.61, compared to Friday’s closing of $2,645.1.

Attribution: Amwal Al Ghad English, Reuters

Subediting: M. S. Salama