Ammon News - Gold was little changed on Monday as traders awaited fresh catalysts after a recent rally pushed prices to record highs, fuelled by geopolitical concerns and hopes of U.S. rate cuts.

Spot gold was flat at $3,025.38 an ounce as of 0715 GMT. U.S. gold futures rose 0.3% to $3,029.70.

Bullion reached a record high of $3,057.21 on Thursday.

Zero-yield bullion is seen as a hedge against geopolitical and economic uncertainties, as well as inflation.

With gold prices near all-time highs, jewellers across Asia and the Middle East are grappling with displays losing their sparkle as customers race to cash in their old jewellery and coins.

The U.S. Federal Reserve held its benchmark rate steady in the 4.25%-4.50% range last week and policymakers expect two quarter-percentage-point cuts by 2025-end.

Spot silver firmed 0.4% to $33.17 an ounce, platinum added 0.3% to $977.7, and palladium gained 0.4% to $962.00. Reuters