Manama: Gold prices slipped on Thursday as investors took the opportunity to book profits following a surge to a more than one-month high, driven by heightened expectations of an interest rate cut by the Federal Reserve next week. According to Bahrain News Agency, spot gold decreased by 0.3% to USD 2,711.00 per ounce as of 0455 GMT. Earlier in the trading session, gold reached its highest level since November 6, peaking at USD 2,725.79. This recent activity followed a period of increased anticipation of monetary easing by the Federal Reserve, which has influenced investor behavior in the precious metals market. U.S. gold futures also experienced a decline, falling 0.4% to USD 2,746.80. Meanwhile, other precious metals displayed mixed results: spot silver rose by 0.3% to USD 32.02 per ounce, platinum increased by 0.4% to USD 943.75, and palladium saw a more significant gain of 0.8% to reach USD 989.20. These movements reflect the complex interplay of market forces as investors adjust their portfolios in ant icipation of potential shifts in U.S. monetary policy.
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