Business

Gold, other precious metals prices rise

Spot gold gained 1 percent to US$4,092.43 per ounce, while US gold futures climbed 1.5 percent to US$4,149.50 per ounce.

By WAM Published: 2026-08-05T05:07:00+04:00 1 min read
Gold prices rose 1 percent on Tuesday, supported by lower oil prices, which eased inflation concerns and reduced expectations of further increases in US interest rates. File photograph.
Gold prices rose 1 percent on Tuesday, supported by lower oil prices, which eased inflation concerns and reduced expectations of further increases in US interest rates. File photograph.

New York: Gold prices rose 1 percent on Tuesday, supported by lower oil prices, which eased inflation concerns and reduced expectations of further increases in US interest rates.

Spot gold gained 1 percent to US$4,092.43 per ounce, while US gold futures climbed 1.5 percent to US$4,149.50 per ounce.

Among other precious metals, spot silver rose 2.8 percent to US$59.82 per ounce, while platinum advanced 7.1 percent to US$1,745.42 per ounce. Palladium also gained 7.1 percent to US$1,355.13 per ounce.