Gold rallies to one-week high amid rate-cut expectations
Gold prices climbed on Tuesday, hitting a one-week peak, following remarks by officials at the U.S. Federal Reserve that bolstered expectations for an upcoming interest rate cut, WAM reported.
Spot gold climbed 0.4 percent to $4,465.32 per ounce, after jumping nearly 3 percent in the previous session.
US gold futures for February delivery rose 0.3 percent to $4,465.70 per ounce.
Among other precious metals, spot silver advanced 2.9 percent to $78.72 per ounce, after reaching a record high of $83.62 on 29th December.
Spot platinum gained 2.5 percent to $2,327.17 per ounce, after climbing to an all-time high of $2,478.50 last Monday.
Palladium prices increased 0.8 percent to $1,721.74 per ounce.
Qazinform News Agency reported on Monday that gold prices climbed 1.5%, while other precious metals recorded strong gains.
