London, Aug. 11 (SANA) Gold prices rose to their highest level in nine weeks on Monday, supported by strong buying momentum as investors awaited U.S. inflation data and signals regarding the Federal Reserve’s monetary policy.
According to Reuters, Spot gold gained 0.8% to reach $4,376.56 an ounce, after touching its highest level since June 5 earlier in the trading session.
U.S. gold futures also increased, rising 0.5% to $4,419.70 an ounce.
Spot silver jumped 3.1% to $65.50 an ounce, while platinum edged up 0.1% to $1,746.50 an ounce, and Palladium reported a further increase of 0.2% to $1,380.17.
The gains came amid investor optimism over a possible Omani mediation effort between Iran and the United States aimed at easing regional tensions and reopening the strategically important Strait of Hormuz.
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