Gold Hits Record High Of $3,842.76 Per Ounce
(MENAFN- The Peninsula)
QNA
Singapore: Gold prices rose further to hit a fresh high on Tuesday and were poised for their best month in 14 years, as fears of a potential US government shutdown and growing expectations of further US interest rate cuts boosted demand for the safe-haven metal.
Spot gold was up 1% at $3,869.75 per ounce. Bullion has risen 11.4% so far in September, on track for its best month since August 2011.
US gold futures for December delivery gained 0.4% to $3,872.
Spot silver was steady at $46.95 per ounce, platinum eased 0.2% to $1,597.58, and palladium fell 0.8% to $1,259.02.
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