Gold rose in spot transactions by 0.81% to reach $3864.42 per ounce. The precious metal has recorded an increase of 11.4% since the beginning of September, setting it on track to achieve its best monthly performance since August 2011. Recent economic data has also contributed to strengthening expectations that the Federal Reserve may resort to further rate cuts in the coming period. Traditionally known as a safe haven during times of political and economic tensions, gold particularly benefits from a low-interest-rate environment.
As for other precious metals, silver remained stable at $46.95 per ounce, while platinum fell by 0.2% to $1597.58, and palladium decreased by 0.8% to $259.02.
