Gold Prices Fall, Oil Steady Globally

Gold prices continued to decline on Thursday, following a rise in the U.S. dollar after the Federal Reserve cut its key interest rate by a quarter point, as expected, and signaled further monetary easing.اضافة اعلان

According to Bloomberg Economics, spot gold fell 0.2 percent to $3,653.54 per ounce, while U.S. gold futures for December delivery dropped 0.8 percent to $3,688.10.

Among other precious metals, spot silver declined 0.3 percent to $41.55 per ounce, platinum rose 0.3 percent to $1,367.60, and palladium increased 0.4 percent to $1,158.94.

Oil prices remained largely unchanged after the U.S. central bank’s rate cut, as the signal for further easing later in the year raised expectations of higher demand driven by lower borrowing costs.

Brent crude futures fell 8 cents, or 0.12 percent, to $67.87 per barrel, while U.S. West Texas Intermediate (WTI) crude futures dropped 10 cents, or 0.16 percent, to $63.95 per barrel.

—(Petra)