The rise in gold prices is supported by expectations of a US interest rate cut

Goldtoday in Asian trading, heading to record gains for the fourth month in a row, supported by investors’ optimism about the possibility of reducing American interest rates next December.

Gold rose in spot transactions 0.8% to $4,189.61 per ounce, heading towards achieving weekly gains of three percent and monthly gains of 3.9%, while US gold futures contracts for delivery next December rose 0.5% at $4,221.30 per ounce.

And in other precious metals, Silverin spot transactions rose 1.4% to $54.18 per ounce, platinum rose 1.7% to $1,634.82, while palladium lost 0.6% to $1,428.62 per ounce.

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