Gold prices extend gain for third consecutive session
Spot gold rose 0.4% to $3,367.53 per ounce, and gold futures for December delivery added 0.3% to $3,416.70.
The dollar fell to near multi-week lows against rival currencies, making gold cheaper for holders of other currencies, while 10-year US Treasury yields held near their lowest levels in a week.
As for other precious metals, spot silver rose 0.2% to $38.56 per ounce, platinum fell 0.1% to $1,338.33, and palladium rose 1.3% to $1,136.70.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Observer
2 hours ago
- Observer
Trump aims to boost US space industry with less red tape
WASHINGTON: US President Donald Trump aims to stimulate the domestic space industry by cutting bureaucracy as the competition from countries like China and India heats up. In an executive order signed on Wednesday, the administration outlined plans to strengthen the US position in space by 2030 through a competitive market for launches, a significant increase in launch frequency, and "novel space activities." To achieve this, the government plans to simplify and accelerate approval processes for commercial licenses and US-based operators. The order says ensuring efficient launches and re-entries by US operators is "critical to economic growth, national security, and accomplishing federal space objectives." The policies will help maintain "American space competitiveness and superiority." The executive order sets deadlines for federal agencies, including NASA, to propose measures to reduce regulatory hurdles and identify conflicts with existing rules, such as environmental regulations. The US aims to return humans to the moon by 2027, decades after the last crewed US lunar missions, but ahead of other nations with ambitious space programmes such as China and India. Rapid commercialization and privatization have dramatically changed the space industry in recent years, intensifying the race for a leading position in the sector. — dpa
Times of Oman
7 hours ago
- Times of Oman
Gold prices extend gain for third consecutive session
Singapore: Gold prices rose for the third consecutive session today, supported by a weaker dollar and lower Treasury yields as traders' bets on a US interest rate cut in September increase. Spot gold rose 0.4% to $3,367.53 per ounce, and gold futures for December delivery added 0.3% to $3,416.70. The dollar fell to near multi-week lows against rival currencies, making gold cheaper for holders of other currencies, while 10-year US Treasury yields held near their lowest levels in a week. As for other precious metals, spot silver rose 0.2% to $38.56 per ounce, platinum fell 0.1% to $1,338.33, and palladium rose 1.3% to $1,136.70.
Times of Oman
7 hours ago
- Times of Oman
Dollar declines amid expectations of interest rate cut
Singapore: The US dollar fell to its lowest level in several weeks against major currencies today, amid market expectations that the US Federal Reserve will resume cutting interest rates next month. The dollar index, which measures the performance of the US currency against a basket of major currencies, dropped to 97.673 points, down about 0.8% over the past two sessions, before hitting 97.626 points on Wednesday, marking its worst performance since 28 July. The dollar declined 0.7% to 146.38 yen, its weakest level since July 24, while the British pound rose to its highest level since July 24, reaching 1.3590 dollar. Meanwhile, the euro held steady at 1.1712 dollar, slightly below Wednesday's peak of 1.1730, a level not seen since July 28.
