Hong Kong - Gold prices shot to a record high on Monday as investors grew increasingly optimistic that the US Federal Reserve will continue to cut interest rates through next year.
Gold prices in Oman
24K - RO55
22K- RO51.3
18k- RO40.60
The precious metal reached a peak of $4,383.76 in early trade as a string of data last week, pointing to further weakness in the US labor market and easing inflation, gave the central bank room to ease monetary policy further.
Monday's gain pushed the commodity past its previous high of $4,381.52, which was reached in October.
Silver is again the star in commodities, reaching a fresh record at $69.44 per ounce and bringing gains for the year to almost 140%.
Oil prices rose after the U.S. intercepted a Venezuelan oil tanker over the weekend, and was pursuing another one in what would be the third such operation in less than two weeks.
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