Gold Rises Amid US Recession Fears

Gold prices drifted higher on Monday, aided by worries that the US could be headed for a recession and rising bets that the Federal Reserve will likely need to start cutting interest rates aggressively. Spot gold rose 0.14 percent to USD 2,446.83 per ounce, after falling 1 percent earlier in the session. US gold futures rose 0.8 percent to USD 2,488.50. Spot silver was down 0.4 percent at USD 28.43 per ounce, platinum fell 1.23 percent to USD 946.10 and palladium declined 0.9 percent to USD 882.09. Source: Qatar News Agency