Gold rises supported by weak dollar and anticipation of Federal Reserve meeting
Gold and precious metal prices rose, supported by a weak dollar, as investors anticipate next week's Federal Reserve meeting to determine the interest rate trajectory and its impact on the precious metal.
Translated by Qiyas from السياسة — Original source
Gold prices rose on Tuesday, supported by a weaker US dollar, as investors awaited next week’s monetary policy meeting of the Federal Reserve (the US central bank) in search of clues about the future trajectory of interest rates.
Spot gold rose 0.1 percent to $4,145.22 per ounce by 03:47 GMT, while US December gold futures gained 0.1 percent to $4,164.70.
Higher interest rates typically weigh on gold, as they increase the opportunity cost of holding the non-yielding precious metal.
Among other precious metals, spot silver rose 0.7 percent to $57.48 per ounce, platinum increased 0.7 percent to $1,651.25, while palladium fell 0.2 percent to $1,117.87.
