Gold prices rise, heading for gains for the eighth week
Gold futures prices rose, heading for their eighth consecutive weekly gain, amid ongoing geopolitical and economic uncertainty and growing expectations of a US interest rate cut.
During Friday's trading, gold futures for December delivery rose 0.4%, or $16.50, to $3,989.10 per ounce.
While spot gold fell slightly by 0.1% to trade at $3,973.16 per ounce, silver rose 0.7% to $49.6322 per ounce, after hitting a record high of $51.22 on Thursday.
The dollar index, which measures the performance of the US currency against a basket of six major currencies, fell 0.25% to trade at 99.29 as of 8:27 AM Mecca time.
Meanwhile, silver futures for December delivery rose 0.55% to $47.42 per ounce, while spot platinum prices fell 1.25% to $1,604.61, and palladium prices fell 2.3% to $1,387.45.
After the Federal Reserve resumed its monetary easing cycle in September with a 25 basis point interest rate cut, investors expect similar cuts in October and December, at 95% and 82%, respectively, according to Reuters
2025-10-10