Gold Rebounds 0.7% to $3,900.90 an Ounce After Sharp Sell-Off
Singapore, November 02 (QNA) – Gold prices rose on Monday, recovering from a sharp sell-off in the previous session, as lower oil prices eased inflation concerns, while investors weighed comments from the US Federal Reserve for clues about the outlook for interest rates.
Spot gold gained 0.7% to $3,900.90 an ounce, rebounding after falling 3.5% on Friday to its lowest level in a year and slipping below the $4,000 mark.
US gold futures for December delivery rose 0.3% to $3,909.70 an ounce.
Among other precious metals, spot silver rose 1.8% to $49.97 an ounce, while platinum edged up 0.1% to $1,432.63. Palladium was little changed at $976.31 an ounce. (QNA)