Gold Prices Extend Record Rally

London, Gold prices extended their record rally on Monday, supported by speculative buying and continued tensions in the Middle East, which overshadowed strong US job growth in March.

Spot gold was up 0.3% at $2,335.73 per ounce, after hitting a record high of $2,353.79 earlier in the session.

US gold futures gained 0.4% to $2,354.50.

Strong central bank buying, safe-haven inflows amid elevated geopolitical risks, and demand from momentum-following funds have fueled bullion’s 12% gain so far this year.

US job growth blew past expectations in March, suggesting the economy ended the first quarter on solid ground and potentially delaying anticipated Federal Reserve interest rate cuts this year.

Spot silver was up 1.1% to $27.77 per ounce, platinum edged 0.1% higher at $927.78, and palladium gained 0.2% at $1,001.76.

Source: Qatar News Agency