Singapore – Gold prices rose on Wednesday, maintaining their gains above the $3,600 per ounce level, supported by growing expectations of a potential U.S. interest rate cut this month, as investors await key U.S. inflation data this week.
Spot gold rose 0.3% to $3,635.33 per ounce, while U.S. gold futures for December delivery fell 0.2% to $3,673.70.
In other precious metals markets, spot silver climbed 0.3% to $41.00 per ounce, platinum rose 0.9% to $1,380.74, while palladium was steady at $1,148.57 per ounce.
This positive performance for gold comes amid declining U.S. bond yields and increasing market bets that the Federal Reserve may move toward easing monetary policy at its next meeting, enhancing the yellow metal’s appeal as a hedge against economic slowdown and global financial uncertainty.