DOHA: The price of gold in the Qatari market increased by 1.17% this week, reaching $2,946.17000 per ounce yesterday, according to data released by Qatar National Bank (QNB).
The data showed that gold rose from $2,911.93000 recorded last Sunday. It also indicated that other precious metals recorded weekly changes, with silver rising by 2.12%, to $33.239 per ounce, up from $32.546 recorded last Sunday, while platinum increased by 2.27%, reaching $990.95 per ounce, compared to the $968.95 per ounce it was at the beginning of the week.
The gold prices edged higher yesterday as uncertainty over tariffs persisted, driving safe-haven demand, while a cooler-than-expected US inflation print also supported bullion by strengthening expectations of rate cut.
Spot gold was up 0.2% at $2,938.24 an ounce, while US gold futures were steady at $2,945.70. The spot silver rose 0.2% to $33.29 an ounce, platinum added 0.2% to $985.18, and palladium gained 0.6 percent to $954.63.
Meanwhile the oil prices eased yesterday after surging the day before as worries about the impact of intensifying tariff wars on global economic growth and energy demand outweighed the positive sentiment from a larger-than-expected draw in US gasoline stocks.
Brent futures fell 7 cents, or 0.1%, to $70.88 a barrel, while US West Texas Intermediate crude futures shed 11 cents, or 0.2%, to $67.57 a barrel.
