Gold Rises on Federal Reserve Rate Cut Bets

Singapore, 10 Nov (ONA) --- Gold prices rose today, 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.

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.

--- Ends/Khalid