Muscat: Gold edged higher today, supported by a weaker dollar after mild US inflation data cemented bets for an interest rate cut in September. Spot gold was up 0.2% at $3,351.46 per ounce, and US gold futures for December delivery were steady at $3,399.60.

According to Oman News Agency, the movement in the gold market followed the release of recent US inflation data, which indicated a milder economic outlook and strengthened speculation about a forthcoming interest rate cut by the Federal Reserve. The weaker dollar usually makes gold more attractive as an investment, leading to a rise in its prices.

Elsewhere in the precious metals market, spot silver rose 0.8% to $38.17 per ounce, platinum eased 0.1% to $1,335.82, and palladium remained flat at $1,129.37. The fluctuations in these metals suggest a cautious market response as investors await further economic indicators that could influence monetary policy decisions.