Gold prices drop slightly on March 20th

Gold prices edged lower on Thursday as the Federal Reserve’s signal of potential interest rate cuts and global economic uncertainty fueled safe-haven demand for the precious metal.

As of 12:40 GMT, spot gold slipped 0.26 per cent to $3,039.42 per ounce, down from its previous close of $3,047.39. Meanwhile, US gold futures gained 0.26 per cent, reaching $3,049.01 per ounce, compared to Wednesday’s closing price of $3,041.2.

Despite the dip, gold remains near record highs as investors weigh monetary policy shifts and economic risks, keeping demand for the metal strong.

Attribution: Amwal Al Ghad English, Reuters

Subediting: Y.Yasser