Thanks to forecasts of a reduction in American interest rates at the beginning of next year and the demand for safe haven created by the war in Ukraine and tensions in the Middle East, the gold price was on the brink of collapse today. Here is its best year in three years

Spot gold was up 0.2% at $2,068.95 per ounce at 0233 GMT. It has increased by 14% since the start of the year, heading for its biggest annual gain since 2020. US gold futures fell 0.2% to $2,078.70 per ounce. In reality, lower interest rates are reducing the opportunity cost of holding bullion with no return

As for other precious metals, platinum was stable at $1,002.50 per ounce, a nearly six-month high, while palladium rose 0.1% to $1,133.73. Both autocatalytic metals were on track for an annual decline, with palladium down 37% - the largest since 2008. Spot silver rose 0.2% to $23.83 per ounce, but it looks like the year will end on a steady note