Doha: Gold and silver prices surged to record highs on Monday, supported by expectations of a US Federal Reserve interest rate cut in September. Gold and silver prices experienced significant growth, with spot gold rising 0.8% to $3,475.72 per ounce, marking its highest level since April 23. Meanwhile, US gold futures for December delivery increased by 0.9%, reaching $3,546.10.
According to Qatar News Agency, silver prices climbed above $40 per ounce for the first time in more than a decade, experiencing a 2% increase to $40.44. This marks the highest level for silver since September 2011. In addition to gold and silver, other precious metals also saw gains; platinum added 0.8% to close at $1,375.41, while palladium advanced 1.1%, reaching $1,121.09.