Gold drops over 1% on profit-taking

Gold bars

Gold prices declined on Friday, as investors took profits following the recent recovery of the yellow precious metal on forecasts about the near end of the US monetary tightening cycle.

 

Gold futures for August delivery fell by 1.22%, or $29.9, to $2,426.5 per ounce at 8:14 am Makkah time, losing nearly 0.24% this week.

 

Gold spot prices edged down 0.89% to $2,423.31 per ounce, and silver futures for September delivery dropped 1.47% to $29.78. Platinum spot prices also lost 0.56% to $966.59.

 

Markets now see a 98% chance of a US rate cut in September, according to the CME FedWatch Tool.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Commodity Price

 
Gold
4,102.97
(47.90) (1.13%)
Silver
59.64
(0.03) (0.05%)
PLATINUM
1,636.70
(58.80) (3.36%)
PALLADIUM
1,122.00
(7.50) (0.64%)

Join Us

Argaam.com Copyright © 2026, Argaam Investment, All Rights Reserved
Call Request