Gold prices up amidst rate cut optimism

By Nada Ali On Sep 24, 2024

An employee holds a 1-kilogram gold bar in the precious metals vault at Pro Aurum KG in Munich, Germany — Image Credits to Andreas Gebert | Bloomberg via Getty Images

Gold prices edged up slightly in early trading at 6:15 GMT on Tuesday, driven by continued optimism surrounding potential interest rate cuts in the United States.

Spot gold prices surged by 0.02 per cent to $2,629.10 per ounce, compared to yesterday’s closing price of $2,628,54. US gold futures also gained 0.03 per cent to 2,653.25, compared to Monday’s closing of 2,652.5.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama