Global Markets See Gold Prices Rise Amid Oil Price Declines

Gold prices rose slightly on Friday, driven by falling oil prices and a weakening US dollar. The price of gold in spot transactions increased by 0.3% to $4,350.60 per ounce. In contrast, U.S. gold futures for December delivery fell 0.2% to $4,391.60.

The prices of other precious metals also rose: silver increased by 0.7% to $65.64 per ounce, platinum rose by 0.9% to $1,785.55, and palladium gained 0.1% to $1,292.47.

Oil prices fell for the third consecutive session as concerns over potential Saudi supply disruptions faded amidst worries about the expanding conflict in the Middle East. Brent crude futures dropped by 79 cents or 0.75% to $104 per barrel, while U.S. West Texas Intermediate crude futures fell by 70 cents, or 0.69% to $101.20 per barrel.