Gold is rising with the support of the dollar’s decline

Gold prices rose on Monday in early Asian transactions, supported by the decline in the US dollar, although the prospects for raising US interest rates again this year to curb inflation negatively affected the appetite for the precious metal.

By 0051 GMT, gold in instant transactions increased 0.3 percent to $ 1926.29 an ounce. And US gold futures rose 0.3 percent to $ 1936.10 an ounce.

The dollar index fell 0.2 percent, which makes gold more attractive to buyers holding other currencies.

Gold fell 1.8 percent last week, after statements related to tightening monetary policy by several US central bank officials.

As for other precious metals, silver rose 0.7 percent to $22.57 an ounce. Platinum rose 0.8 percent to $924.13 an ounce. Palladium rose 1 percent to $1,297.63 an ounce.

Palladium fell to a four-year low of $1,269.09 an ounce on Thursday.