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Gold rises to its highest level in more than a week

On Monday, gold prices rose to their highest level in more than a week, benefiting from a weaker dollar, although higher US Treasury yields limited gains for the dollar-denominated yellow metal.

And gold rose in spot transactions 0.6 percent to $ 1856.41 an ounce by 0814 GMT. After prices reached the highest level since May 12, recording $ 1858.21 earlier in the session.

US gold futures rose 0.7 percent to $1,855.60 an ounce.

The dollar index fell as investors continued to sell the US currency and their bets that the dollar would make more gains due to higher interest rates fell, while they hoped that easing the closure measures in China could help the growth of the global economy and export-linked currencies.

A weak dollar makes gold more attractive to buyers than to holders of other currencies.

The yellow metal loses its attractiveness to investors when US interest rates rise because it does not generate returns, but it is considered a safe haven during economic crises.

Among other precious metals, silver rose 1.1 percent to $21.98 an ounce, platinum rose one percent to $965.40 and palladium rose 2.6 percent to $201580.

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