Gold prices up amid Fed rate cut expectations

Gold prices edged up on Wednesday as market participants awaited more US economic data to determine the number of rate cuts the Federal Reserve is likely to deliver in the near term.

Spot gold prices rose at 6:39 GMT by 0.44 per cent to $ 2,674.69 per ounce, compared to the previous closing price of $2,662.85. While, US gold futures increased 0.45 per cent to $2,690.85, compared to Tuesday’s closing of $2,678.9.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama