Gold prices rose as a result of the dollar’s decline

Gold prices initially rose in Asian markets on Monday, supported by a weaker dollar and prospects for the Federal Reserve to slow down interest rate hikes.

And the price of gold rose 0.1 percent to 1929.04 dollars an ounce at 0014 GMT.

There was little change in US gold futures at $ 1929.

The dollar index fell 0.1 percent, making gold priced in US dollars cheaper for holders of other currencies.

The Federal Reserve is expected to again slow the pace of interest rate increases at its policy meeting on January 31-February 1, while also signaling that its fight against inflation is far from over.

As for other precious metals, the spot silver price rose 0.2 percent to $24 an ounce, platinum fell 0.2 percent to $1,041.75, and palladium rose one percent to $1,744.86.