Spot gold climbs to $4,127 per ounce; gram silver reaches 93.24 lira

Spot gold climbed 1.54 percent to $4,127.04 per ounce as of 07:25 a.m. Istanbul time on Wednesday, while US gold futures traded at $4,184.40 with a 0.8 percent premium. According to market data, spot silver gained 1.9 percent, rising to $60.64 per ounce; gram silver in Turkey's market climbed to 93.24 lira. For investors redirecting their holdings from gram gold to silver, this level represents an entry cost approximately 30 percent higher than a year ago. Platinum rose 1.4 percent to $1,758.35, reaching its highest level since mid-June; palladium gained 0.9 percent to close at $1,365.62, posting its second consecutive day of gains. The continued weakness of the US dollar makes dollar-denominated metals more attractive to investors holding other currencies. The stabilization of oil prices following sharp declines over the last two sessions is also supporting the metals rally by easing inflationary concerns that fuel interest rate expectations.