Gold rises amid expectations of a cut in US interest rates

Gold prices rose during early Asian trading today, driven by optimism about the possibility of the Federal Reserve (the US central bank) cutting interest rates in December.

Gold increased in spot transactions by about 0.2 percent, recording $4,136.59 per ounce by 0054 GMT, while US gold futures contracts for December delivery fell by about 0.1 percent to $4,134.

Markets currently expect 84 percent to cut interest rates next month, compared to just 50 percent last week, according to CME data.

Gold, which does not yield a yield, rises in a low interest rate environment and during periods of geopolitical uncertainty.

The US weekly jobless claims report is scheduled to be released later today.

As for other precious metals, silver fell in spot transactions by 0.1 percent to $51.36, platinum fell by 1 percent to $1,538, and palladium fell by 1.1 percent to $1,382.24.