Gold Prices Rise Amid Expectations Of Interest Rate Cuts

2025-03-24 02:34:58

(MENAFN- The Peninsula) QNA

Singapore: Gold prices rose on Monday amid concerns about the imminent tariffs that US President Donald Trump plans to impose, in addition to anticipation of interest rate cuts by US Federal Reserve this year.

Gold increased by 1% in spot transactions to $3025.12 per ounce. US Gold futures rose 0.3% to $3030.70 per ounce.

Gold reached its highest level ever at $3057.21 per ounce last Thursday, as trade tensions fueled demand for safe-haven assets.

As for other precious metals, silver rose 0.1% in spot transactions to $33.06 per ounce, platinum increased by 1.1% to $981.25, and palladium rose 0.5% to $962.54.

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