Gold prices rose today after US economic data came in lower than expected, raising hopes that the Federal Reserve will cut interest rates next September.
Spot gold rose 0.3% to $2,362.10 an ounce after hitting a near two-week high in the previous session. US gold futures changed a little at $2,369.80.
Markets now expect a 74% chance that the Fed will cut interest rates at its September meeting, according to the CME FedWatch tool.
As for other precious metals, silver rose in spot transactions by 0.2% to $30.54, and platinum increased by 0.5% to $1,002.28. Palladium fell 0.6% to $1,023.23 after rising to its highest level since mid-April in the previous session.
