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Gold Rises With The Decline of The Dollar

Adel 25 November, 2021 11:36 am Commodities, Forex Market, Global Stock Market, Market Update

Gold prices rose on Thursday as the dollar weakened, but hawkish comments from US Federal Reserve policymakers limited the metal’s allure and kept it well below the important $1,800 level.

Spot gold rose 0.2 percent to $1,791.76 an ounce by 0501 GMT, after falling to its lowest level since November 4 on Wednesday. US gold futures rose 0.4 percent to $1,791.60.

The dollar index fell 0.1 percent from its 16-month high hit in the previous session, reducing the cost of the metal to buyers of other currencies.

As for other precious metals, silver rose in spot transactions 0.3 percent to $23.59 an ounce. Platinum rose 1.6 percent to $989.77, and palladium rose 2.3 percent to $1,893.76.

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