Gold prices climbed on monday:old prices climbed on Monday, lifted by growing expectations that the US Federal Reserve will cut interest rates next month and by a weaker US dollar. Gold prices saw a notable increase, with spot gold rising 0.4 percent to $4,081.52 an ounce. U.S. gold futures for December delivery remained largely stable at $4,079.30 an ounce.

According to Qatar News Agency, the trend was not limited to gold alone. Other precious metals also experienced gains, with spot silver rising 0.5 percent to $50.24 an ounce. Platinum saw a significant increase of 1.1 percent, reaching $1,528.01 an ounce, while palladium added 0.8 percent to its value, trading at $1,385.85 an ounce.

The increase in these precious metals' prices reflects the market's anticipation of a potential rate cut by the US Federal Reserve, which typically results in a weaker dollar and boosts the appeal of commodities priced in the currency. Market analysts are closely monitoring the situation as the next Federal Reserve meeting approaches.