Gold prices rose Tuesday after statements by Chair of the Federal Reserve (US central bank) Jerome Powell strengthened the justifications for lowering interest rates in September 2024, while investors await more US economic data for other indicators about monetary policy. Spot gold rose 0.2 percent to USD 2,425.69 per ounce. US gold futures rose 0.1 percent to USD 2,431.80. On Monday, gold prices reached their highest level since May 2024, when the metal rose to a record level of USD 2,449.89. As for other precious metals, spot silver fell 0.8 percent to USD 30.75 per ounce, platinum fell 0.3 percent to USD 992.26, and palladium rose 0.4 percent to USD 954.18. Source: Qatar News Agency
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