Gold recovers from a one-week low, rising more than 1% as the dollar weakens
Gold and precious metal prices rose as the dollar weakened and prospects for a US interest rate hike were reassessed.
Translated by Qiyas from السياسة — Original source
Gold prices rose by more than 1% today, recovering from their lowest level in a week recorded in the previous session, amid a decline in the US dollar and investors’ reassessment of the likelihood of a US interest rate hike this month, following a report that indicated rising inflation.
Spot gold rose 1.3% to $4,158.63 per ounce, after hitting its lowest level since October 7 on Wednesday.
US December gold futures also gained 1.8% to $4,180 per ounce.
Among other precious metals, spot silver rose 1.1% to $56.26 per ounce, platinum increased by 0.3% to $1,611.15, and palladium rose 1.3% to $1,107.83 per ounce.
