Gold prices rise with the support of the dollar’s decline

Gold prices rose today, Thursday, supported by the decline in the dollar, while investors await US inflation data that may affect the path of the Federal Reserve (US Central Bank) regarding interest rates.

And gold in spot transactions increased 0.4% to 1883 dollars an ounce, and US gold futures rose 0.4% to 1886.30 dollars an ounce.

The dollar index is hovering near its lowest level in seven months, and the yield on US Treasury bonds has declined. The dollar’s decline increases the attractiveness of the dollar-denominated metal to holders of other currencies.

Investors’ focus remains focused on the upcoming US CPI data.

As for other precious metals, silver rose 0.8% to $23.61 an ounce. Platinum fell 0.2% to $1,068.81 an ounce, while palladium rose 0.7% to $1,786.85 an ounce.