Gold prices recorded an increase today, supported by the weakness of the dollar, while market participants await the possibility that the Federal Reserve (the US central bank) will continue to raise interest rates.
Gold in spot transactions rose 0.2 percent to $1839.39 an ounce, up about 1.6 percent during the week so far, while US gold futures contracts increased 0.2 percent to $1844.80.
As for other precious metals, spot silver rose 0.5 percent to $21 an ounce, platinum rose 0.4 percent to $963.90, while palladium rose 0.4 percent to $1,454.99. The dollar fell today against major currencies, heading towards recording the first weekly loss since last January, in light of the state of anticipation of the monetary policy path of the Federal Reserve / the US Central Bank / regarding interest. The dollar’s decline in general motivates investors to buy gold priced in the US currency as a safe haven.
