Gold prices hold steady, poised for weekly gains ahead of fed chairman’s speech

Gold prices remained stable on Friday, positioning for weekly gains as investors anticipate a potential reduction in U.S. interest rates, with eyes on Federal Reserve Chairman Jerome Powell's upcoming speech for further guidance. In the spot market, gold held steady at $2,455.50 per ounce, marking a rise of over one percent since the week's start. U.S. gold futures also settled at $2,493.00. While silver dipped by 0.7 percent to $28.19 per ounce, platinum inched up by 0.2 percent to $954.25, reaching its highest level in two weeks. Palladium saw a slight decline of 0.3 percent to $941.78. Despite these minor fluctuations, all three metals are on track for weekly gains, reflecting broader market optimism. Traders now await Powell's speech next week for insights on the Federal Reserve's policy direction. Source : Yemen News Agency