Gold Soars to Four-Month High

On Monday, gold reached its highest level in more than four months, fueled by increasing bets that the U.S. Federal Reserve will cut interest rates this month. Meanwhile, silver rose above 40 dollars per ounce for the first time in over a decade.

Spot gold increased by 0.8 percent to 3475.72 dollars per ounce by 0238 GMT, marking its highest price since April 23. Meanwhile, U.S. gold futures for December delivery rose 0.9 percent to 3546.10 dollars.

Platinum also saw a rise, climbing 0.8 percent to 1375.41 dollars. In addition, palladium increased by 1.1 percent, reaching 1121.09 dollars.