Doha: Gold rose more than 1% on Monday as heightened geopolitical tensions and easing concerns over inflation and prolonged high interest rates boosted demand for the safe-haven metal. According to Qatar News Agency, spot gold rose 1.3% to $4,103.99 per ounce. US gold futures for August delivery gained 0.9% to $4,106.10 per ounce. The rise in gold prices reflects investors' increased preference for safe-haven assets amid global uncertainties. In addition to gold, other precious metals also saw gains. Spot silver advanced 2.7% to $59.74 per ounce, platinum rose 2.0% to $1,619.75, and palladium climbed 2.3% to $1,271.93 per ounce. These increases indicate a broader trend of rising demand for precious metals in the current economic climate.
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