Gold prices rose today, Monday, as traders assessed the prospects of U.S. interest rate cuts ahead of significant economic data due later in the week. Spot gold prices increased by 0.5% to $2,344.88 an ounce by 11:58 GMT, after hitting their lowest level since May 9 at $2,325.19 on Friday. U.S. gold futures also climbed 0.5% to $2,345.80. The yellow metal reached a record high of $2,449.89 earlier last week, but has since lost over $100.
Regarding other precious metals, silver increased by 1.7% in spot transactions to $30.86 an ounce, having recorded an 11-year high last week. Platinum jumped 3.1% to $1,057.05 an ounce, while palladium gained 2.3% to reach $986 an ounce.
