Gold Stabilizes on Dollar Decline, Eyes on Fed

Gold prices rose today, Tuesday, June 15, as the dollar’s decline caused the cost of the yellow metal to decline for holders of the rest of the currencies, while investors awaited the outcome of the US Federal Reserve meeting to elicit indications on the path of unprecedented monetary stimulus.

Gold rose in spot trading 0.1% to $ 1867.83 an ounce, after falling to its lowest level since May 17 at $1843.99 on Monday. And US gold futures gained 0.2% to $1869, and the dollar fell 0.1% against its competitors.

As for other precious metals, silver fell 0.5% to $ 27.71 an ounce, palladium rose 0.2% to $ 2756.68, while platinum fell 0.3% to $ 1161.