Doha: Gold prices extended their record run on Wednesday, holding firm above the key $3,500 level, driven by growing investor confidence that the US Federal Reserve will cut interest rates in September. Spot gold was up 0.2% at $3,540.64 per ounce, and US gold futures for December delivery gained 0.4% to $3,607.60.

According to Qatar News Agency, non-yielding gold typically performs well in a low-interest-rate environment. In addition to the gold market, spot silver eased by 0.2% to $40.81 per ounce, while platinum experienced a gain of 0.6% to reach $1,412.30. Meanwhile, palladium saw an increase of 1%, rising to $1,145.69.