Gold Rises With The Decline of The Dollar

Gold futures traded modestly lower on Monday, as a pickup in Treasury yields and the US dollar helped to dull appetite

Gold prices rose Tuesday, December 7th, supported by the dollar’s decline, but rising US Treasury yields and fears that the US Federal Reserve would tighten monetary policy more than expected limited gold’s gains.

US Federal Reserve policymakers are likely to speed up tapering of stimulus measures at their meeting next week after data showed that unemployment fell last month.

The price of gold in spot transactions rose 0.1% to $ 1780.60 by 06:44 GMT, while US gold futures increased 0.2% to $ 1782.40.

With regard to other precious metals, silver rose in spot transactions 0.2% to $ 22.40 an ounce, platinum rose 0.3% to $ 940.50, and palladium fell 0.6% to $ 1844.01.