[size=36]The rise in global gold prices[/size]
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Gold prices jumped to their highest level in two weeks, in early Asian transactions today, Thursday, after expectations of lower US interest rates.
By 04:39 GMT, spot gold rose 0.4 percent to $1,793.30 an ounce, after touching its highest level since November 16.
US gold futures rose 1.7 percent to $1,795.90 an ounce.
Federal Reserve Chairman Jerome Powell said on Wednesday that it is time to slow down the pace of the next hike in US interest rates.
Market participants now largely expect the US central bank at its next meeting in December to raise interest rates by 50 basis points.
Lower interest rates increase the attractiveness of the precious metal and reduce the opportunity cost of owning gold that does not pay interest, and gold ended November transactions, up by more than eight percent, which is the highest monthly rate of increase since July 2020. As for other precious metals, silver increased in spot transactions
. 0.3 percent, to $22.26 an ounce. Platinum rose 0.6% to $1038.46 an ounce, while palladium rose 0.6% to $1892.35 an ounce. Ended 29/M99