Precious Metals Gain Amid Federal Reserve Anticipation

On Monday, the precious metals market witnessed significant gains, with spot gold leading the charge by surging 2.5%. This uptick comes as investors globally are keenly awaiting the Federal Reserve's upcoming decision and monitoring the ongoing US-China trade war for any new developments.

Market Highlights

At 8:29 am ET, gold prices leaped to $3,318.59 per ounce, marking a 2.51% increase. Not far behind, silver saw a 1.25% rise, trading at $32.42 per ounce by 8:30 am ET. Palladium also enjoyed a modest gain of 0.70%, reaching $946.24 per ounce at the same time. However, platinum remained stable at $965.22 per ounce as of 8:31 am ET.