Doha: Gold prices climbed in Asian trading on Friday, heading for a fourth consecutive monthly gain, buoyed by growing investor optimism that the US Federal Reserve may cut interest rates in December. Spot gold rose 0.8% to $2,189.61 per ounce, putting it on track for a weekly gain of 3% and a monthly increase of 3.9%. US gold futures for December delivery advanced 0.5% to $2,221.30 per ounce. Gold, which offers no yield, typically benefits from a low-interest-rate environment, as reduced borrowing costs weaken the dollar and enhance the appeal of non-interest-bearing assets.

According to Qatar News Agency, among other precious metals, spot silver jumped 1.4% to $24.18 per ounce, while platinum rose 1.7% to $934.82. Palladium, however, slipped 0.6% to $1,028.62 per ounce.