Gold Prices Set for Monthly Gain on US Rate Cut Hopes

Gold prices firmed on Wednesday, heading for a monthly gain on the back of growing optimism about US interest rate cuts.Spot gold was up 0.4% at $2,416.79 per ounce, and has gained nearly 4% for the month. US gold futures added 0.5% to $2,414.80.Spot silver rose 0.7% at $28.60 per ounce on Wednesday. Platinum gained 1% to $968.80 and palladium edged 1.3% higher to $900.21.However, both the metals headed for monthly decline. (QNA)Source: Qatar News Agency