Gold Nears Record Heights as Markets Brace for Rate Cuts

Spot gold climbs 0.3%, touching $2,682.14 an ounce amid rate-cut expectations.

MUSCAT : Gold prices surged today, nearing record highs as anticipation builds around potential interest rate cuts by major central banks. Investors are closely watching upcoming U.S. economic data for further clues on market direction.

Spot gold increased by 0.3%, reaching $2,682.14 an ounce, following a high of $2,685.16 yesterday. This puts it just shy of the all-time high of $2,685.42, recorded on September 26. U.S. gold futures also saw a 0.2% rise, standing at $2,697.40.

Silver and other precious metals followed suit, with spot silver rising 0.4% to $31.79 an ounce. Platinum jumped 1.2% to $1,005.00, and palladium climbed 0.5% to $1,028.72