The rise in gold prices is supported by expectations of lower interest rates

Gold prices reached a record high today, supported by expectations of a reduction in US interest rates.

Gold in spot transactions rose 0.4%, reaching $4,124.79 per ounce by 0029 GMT, after hitting a record level of $4,131.52 earlier in the session.

While US gold futures contracts for December delivery rose 0.3% to $4,143.10.

Rising prices Silver

In spot transactions, silver rose 0.3% to $52.49 per ounce, after recording $52.70 earlier in the day.

As for other precious metals, platinum rose 0.5% to $1,653.45 per ounce.

While palladium gained 1.6% to $1,498.25, marking the highest level since May 2023.

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