Doha:According to Qatar News Agency, the rise in gold prices was influenced by the declining expectations of a US interest rate hike, following lower-than-expected inflation data. Investors are now turning their attention to upcoming US jobs data for further monetary policy insights.
Spot gold rose by 0.5% to $4,175.19 per ounce, marking an upward start to the month after a more than 6% drop in September. US gold futures for December delivery also experienced a rise, increasing by 0.4% to $4,204.80.
In the market for other precious metals, silver advanced by 1.2% to $61.11 per ounce. Meanwhile, platinum saw an increase of 0.7% to $1,717.35, and palladium went up by 0.3% to $1,207.12 per ounce.