Gold Prices Reach Two-week High

Gold prices climbed to a two-week high today as US Federal Reserve Chair Jerome Powell opened the door to cutting interest rates as early as September. Spot gold was steady at $2,448.38 per ounce, after hitting its highest level since July 18 earlier in the session. Prices were just about $35 shy of the record high of $2483.60 scaled on July 17. US gold futures firmed 0.8% to $2,492.50. Spot silver fell 0.3% to $28.94 per ounce, platinum lost 0.3% to $973.65 and palladium was flat at $925.16. Source: Oman News Agency