Baku:Gold prices rebounded on Monday following a previous session selloff, influenced by weaker oil prices that tempered inflation concerns. Investors are closely analyzing remarks from the Federal Reserve for insights on the future trajectory of US interest rates.
According to Bahrain News Agency, spot gold saw an increase of 0.8%, reaching $3,903.90 per ounce by 0757 GMT, after experiencing a one-year low in the earlier session. Meanwhile, US gold futures for December delivery rose by 0.4% to $3,913.20.
In related precious metals markets, spot silver surged by 2.5% to $50.33 per ounce. Platinum remained stable at $1,431.50, while palladium experienced a gain of 0.9%, reaching $986.00.