Muscat: The gold prices in the Sultanate of Oman have touched new highs on Tuesday. The rate for 24-karat gold is now RO54.600 per gram, RO50.900 for 22-karat, RO40 for 18-karat, and 47. 82 for 21-karat

According to tradingeconomics.com, gold traded little changed around $4,330 per ounce on Tuesday, holding near the record high reached yesterday, as profit-taking emerged and traders awaited fresh market catalysts.

US Treasury Secretary Scott Bessent is scheduled to meet Chinese Vice Premier He Lifeng in Malaysia this week, ahead of high-level talks between President Donald Trump and President Xi Jinping. Meanwhile, the ongoing US government shutdown continued to weigh on sentiment, though White House suggested the impasse could be resolved this week, the website said.

At the same time, the Federal Reserve is widely expected to cut the federal funds rate by 25 basis points next week, with another reduction likely in December. So far this year, gold has surged more than 60%, driven by expectations of further Fed easing and sustained safe-haven demand, it added.

Gold prices surged more than 2 percent on Monday, trading above $4,345 per ounce, a new record high.

2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).