London [UK], July 11: Gold prices rebounded on Thursday after slipping to a near one-week low earlier in the session, supported by renewed buying interest as investors assessed global economic developments and monitored expectations surrounding the US Federal Reserve's monetary policy path.
The recovery reflected continued demand for safe-haven assets amid lingering uncertainty in financial markets.
Spot gold rose 0.8 percent to $4,107.69 an ounce, recovering from earlier losses. US gold futures for August delivery also gained 0.9 percent to settle at $4,117.30 an ounce, mirroring the strength in the spot market.
Other precious metals also posted solid gains. Spot silver advanced 1.5 percent to $59.14 an ounce, while platinum climbed 2.2 percent to $1,611.83 an ounce. Palladium recorded the strongest performance among the major precious metals, rising 2.5 percent to $1,244.46 an ounce, reflecting broad-based strength across the sector.
Market participants remained focused on upcoming US economic data and comments from Federal Reserve officials for further clues on the timing of potential interest rate moves. Lower interest rate expectations generally support gold, as the precious metal does not offer interest income, while persistent geopolitical and economic uncertainties continue to underpin investor demand for safe-haven assets.
Source: Qatar Tribune
