Gold prices held steady on Wednesday as investors braced for a monthly US payrolls report that could influence how swiftly and deeply the Federal Reserve cuts interest rates this year. Spot gold held its ground at $2,493.34 per ounce, after hitting its lowest level in more than a week on Tuesday. US gold futures were nearly unchanged at $2,524.80. So far this year, gold has gained 21%, hitting an all-time high of $2,531.60 on Aug. 20, driven by US rate cut bets and the Middle East concerns. Spot silver fell 0.4% to $27.94 per ounce, platinum gained 0.2% to $904.65, and palladium was flat at $938.57. Source: Qatar News Agency
Related Posts
Oil Prices Drop despite OPEC+ Production Cut Extension
Oil prices fell early on Monday, despite a move by producer group OPEC+ to extend deep output cuts well into 2025.
Brent futures for August delivery were down 24 cents, or 0.3%, to $80.87 a barrel.
US West Texas Intermediate (WTI) crude futures for …
MOTC Calls for Entries for “World Summit Awards 2021”
The Ministry of Transport and Communications (MOTC) has announced opening registrations for nomination at the domestic level for the “World Summit Awards 2021” (WSA) contest. MOTC also invites all companies, institutions and individuals in the State of…
Central Bank of Kuwait Cuts Discount Rate by 25 Basis Points
Central Bank of Kuwait (CBK) announced a 25 basis point reduction in the benchmark discount rate to four percent from 4.25 percent.
The new discount rates will be effective tomorrow, Thursday.
CBK Governor Basel Al Haroon told the Kuwait News Agency…