Gold prices climb as US rate cut bets intensify

Gold prices rose slightly in early trading on Monday amid growing bets that the Federal Reserve will cut interest rates by a bigger margin later this week.

Spot gold prices increased by 0.44 per cent to $2,516.98 per ounce as of 5:37 GMT, compared to Friday’s closing price of $2,576.5.

Additionally, US gold futures rose 0.18 per cent to $2,615.20 compared to the previous closing on Friday at $2,610.7.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama