Gold prices stabilize near record high levels

SINGAPORE - (Saba): Gold prices stabilized near record high levels in Singapore on Thursday, amid expectations of another significant cut in U.S. interest rates this year.Gold rose by 0.2% in spot transactions to $2,661.25 per ounce, reaching an all-time high of $2,670.43 on Wednesday.American gold futures settled at $2,684.50. Gold has risen by about 29% so far in 2024, reaching record high levels several times this year, largely due to major central banks easing monetary policy and geopolitical concerns.Other precious metals stabilized in spot transactions at $31.85 per ounce, platinum rose by 0.8% to $995.90, and palladium increased by 1.2% to $1,048.75.Source: Yemen News Agency