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Gold prices are trading in a narrow range today, Friday, but prices are on the path of recording a weekly and monthly decline as the high dollar dispels the lustre of the yellow metal.
Spot gold rose 0.2 $ to 1844.86 dollars an ounce. Prices fell 0.5% in the week and 2.7% in the month.
US gold futures rose 0.4% to $ 1,847.90.
He added that the approval of US stimulus, a possible increase in inflation and the next set of measures by global central banks will be fundamental factors for gold.
Gold is seen as a hedge against inflation, likely caused by broad stimulus.
The dollar rose 0.9% this month, supported by the rise in US Treasury yields and thanks to expectations that the fiscal spending package proposed by US President Joe Biden will not be as large as the proposed 1.9 trillion dollars.
As for other precious metals, silver rose 0.1% to $ 26.39 an ounce, after it gained 4.5% on Thursday after some dealers moved to cover city centers due to rumours of buying pressure exerted by individual investors on silver, similar to what happened in GameStop shares.
The metal is up 3.9% for the week, its best weekly performance in about a month and a half.
Platinum rose 0.6 percent to $ 1,077, but is on track for its worst weekly performance in seven weeks. Palladium rose 0.3% to 2,340.70, but fell 4.4% on the month, the biggest monthly decline since April.
