Doha: Gold prices inched higher on Monday following last week’s sharp declines, although expectations of slow US interest rate cuts limited the recovery. Spot gold gained 0.4% to $2,571.11 per ounce, after hitting a two-month low last week. US gold futures rose 0.2% to $2,575.70.

According to Qatar News Agency, spot silver firmed 0.6% to $30.39 per ounce, platinum was up 0.6% at $944.57, and palladium climbed 1.7% to $966.66. These increases come amid cautious market sentiment due to the anticipated gradual reduction in US interest rates, which has tempered the recovery of gold prices despite the recent downturn.

Investors are closely monitoring economic indicators that could influence the US Federal Reserve’s decisions on interest rates. The precious metals market remains sensitive to changes in fiscal policy and global economic conditions, and the recent uptick in prices reflects a cautious optimism among traders.