The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
WORLD CAPITALS / WAM
Gold prices rose to a record high on Monday, as a softer US inflation reading cemented bets that the Federal Reserve would deliver its first interest rate cut of the year in June. According to Reuters, spot gold was up 1.2% at $2,258.12 per ounce, as of 0529 GMT, after hitting an all-time high of $2,265.49 earlier in the session. US gold futures gained 1.8% to $2,279.10. Spot silver rose 0.9% to $25.19 per ounce, platinum was up 0.5% at $912.90 and palladium climbed 0.7% to $1,021.77.