Gold Prices Rise Amid Expectations of US Interest Rate Cuts

Gold prices rose Friday, heading towards achieving weekly gains, supported by increasing hopes for a US interest rate cut in September. Gold rose in spot transactions by 0.6 percent to USD 2,471.79 per ounce, and rose by 1.7 percent since the beginning of the week, while US gold futures increased by 0.7 percent to USD 2,510. As for other precious metals, silver fell in spot transactions by 0.7 percent to USD 28.20 per ounce, while platinum rose by 0.3 percent to USD 955.35, after rising four percent on Thursday to its highest level in two weeks, and palladium fell by 0.4 percent to USD 940.36. Source : Qatar News Agency