Gold Nears Peak as U.S. Rate Cut Expectations Rise

Gold stabilized on Thursday, hovering near its all-time high reached in the previous session. This stability is supported by global uncertainties and increasing expectations for a cut in U.S. interest rates. Traders are now looking forward to key U.S. employment data set to be released this week.

As of 00:59 GMT, spot gold remained steady at $3561.97 per ounce. Yesterday, the precious metal reached a record level of $3578.50. U.S. gold futures for December delivery edged down by 0.4% to $3619.40.

For other precious metals, silver experienced little change and stayed firm in the spot market at $41.19 per ounce. Platinum increased by 0.2% to $1423.63, while palladium experienced a slight decline of 0.6% to $1140.50.