Gold Holds near Record High on US Rate Cut Optimism

Gold prices held steady on Monday near a record high scaled in the previous session, as rising expectations of a US interest rate cut next month lifted bullion's appeal. Spot gold edged 0.2% lower to $2,501.19 per ounce. Prices had surged to an all-time high of $2,509.65 on Friday. US gold futures rose 0.1% to $2,540. Spot silver fell 0.22% to $28.94 per ounce, platinum slipped 0.1% to $953.06 and palladium shed 0.8% to $943.46. Source: Qatar News Agency