Gold Prices Head for Monthly Gain on Hopes for End to Rate-Hike Cycle

Gold prices were bound for their biggest monthly gain in four on Monday as expectations grew that major global central banks may be nearing the end of current monetary policy tightening cycles.

Spot gold was down 0.2% at $1,954.79 per ounce, while US gold futures slipped 0.4% to $1,953.80 per ounce.

Other precious metals also looked set to post monthly rises, with spot silver down 0.5% on the day at $24.22 an ounce. Platinum dropped 0.9% to $927.38 and palladium eased 0.3% to $1,241.93.

Source: Qatar News Agency