Gold Rises on Increased Demand And Lower USD

Gold rose Thursday, August 13th, thanks to the dollar’s decline, to record further gains above the critical $ 1900 level, after a sharp retreat earlier in the week from its highest levels ever.

By 07:08 GMT, spot gold increased 0.6% to $ 1929.13 an ounce, after falling below $ 1900 an ounce in volatile transactions. Prices hit a record high of $ 2,072.50 an ounce on Friday.

US gold futures fell 0.5% to 1938.90 dollars an ounce. The dollar index fell 0.2% against the rest of the currencies, making gold less expensive for holders of other currencies.

As for the rest of the precious metals, silver rose 0.8% to $ 25.76 an ounce. Platinum rose 0.4% to $ 934.95 an ounce. Palladium rose 0.5% to $ 2,140.89 an ounce.