Gold Settles Higher on Dollar Woes

Gold prices rose on Monday, nearing its highest level in about a week, despite an increased risk appetite among investors.

However, the rise in the yellow metal prices is mainly attributed to the Dollar’s decline.

Gold futures for August delivery rose by $3.50, or 0.23%, to settle at $1,793.5 per ounce.

Meanwhile, the Dollar index (DXY), which measures the US currency’s performance against a basket of major currencies, is down by 0.42% for the day.