Doha: Gold prices rose on Monday, buoyed by expectations of another Federal Reserve interest rate cut in December and a slew of weak economic data that raised global growth worries. Spot Gold gained 0.7% to $4,027.88 per ounce. US gold futures for December delivery rose 0.7% to $4,036.60 per ounce.
According to Qatar News Agency, the US economy shed jobs in October amid losses in the government and retail sectors, while cost cutting and artificial intelligence (AI) adoption by businesses led to a surge in announced layoffs, data showed last week.
Elsewhere, spot silver firmed 1.1% to $48.84 per ounce, platinum rose 1.2% to $1,563.25 and palladium added 1.2% to $1,396.75.