Sharjah 24 – WAM: Gold prices inched up on Thursday following a sharp rise in the last session as the dollar and bond yields weakened on the increasing likelihood of rate cuts by the US Federal Reserve as early as September.
According to Reuters, spot gold rose 0.1% at $2,388.10 per ounce as of 0255 GMT, after gaining more than 1% to its highest since 19th April on Wednesday.
Also, US gold futures rose 0.1% to $2,393.20, spot silver fell 0.5% to $29.56 per ounce and palladium gained 0.3% to $1,012.93.
Platinum rose 0.7% to $1,071.00, hitting its highest since 22nd May last year.
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