The dollar’s decline revives gold prices amid fears of weak growth

Gold prices rebounded again on Thursday as a weaker dollar and lower US Treasury yields coupled with a drop in risky assets revived demand for the precious metal, which is considered a safe haven for value amid concerns about global growth.

The price of gold in spot transactions jumped 0.8 percent to $ 1829.20 an ounce by 1008 GMT, while US gold futures rose 0.7 percent to $ 1827.70.

The dollar fell 0.3 percent, while US Treasury yields fell to their lowest levels in a week, making gold cheaper for foreign investors.

European shares also fell on Thursday after heavy selling on Wall Street overnight, prompting investors to turn to gold as a safe-haven asset.

Gold prices fell to a four-month low earlier this week and have risen about 2 percent since the dollar slipped from a 20-year high.

Among other precious metals, spot silver prices rose 0.7 percent to $21.53 an ounce, platinum rose 0.1 percent to $935.93, while palladium fell 1.8 percent to $179.38.