Gold surged to its highest level in more than four months, supported by growing bets that the U.S. Federal Reserve will cut interest rates this month, boosting the appeal of the precious metal. Silver also climbed above $40 per ounce for the first time in over a decade.
Spot gold rose 0.8 percent to $3,477.39 per ounce, marking its highest level since April 23. U.S. gold futures for December delivery climbed 0.8 percent to $3,545.50.
Meanwhile, spot silver increased 1.6 percent to $40.31 per ounce, its highest level since September 2011.
Source (CNBC Arabia Website, Edited)
