Gold Settles as US Dollar Weakens Ahead of Trump And Biden Debate

Gold prices stabilized on Tuesday, September 29, with the dollar retreating from its highest level in two months, as investors look to the first US presidential debate and the developments of a new bill for coronavirus aid in the United States.

There was little change in the yellow metal in the spot market, and settled at $ 1880.01 an ounce by 05:17 GMT. In the previous session, gold rose 1.1%, its biggest daily gain since late August. This rose gold in futures trading in the United States 0.2% to 1885.50 dollars an ounce.

The dollar index fell away from its highest level in two months of 94.745, which it reached last week. A weak dollar cuts the cost of gold to holders of other currencies.

As for the other precious metals, silver fell 1% to $ 23.49 an ounce, platinum lost 0.3% to $ 876.47, while palladium gained 0.4% to $ 2263.97.