Gold prices rose today, Thursday, with the dollar declining, while the focus is on the release of important inflation data in the United States in search of indications about the path that the Federal Reserve (US Central) will follow regarding interest rates.
Gold rose in spot transactions by 0.7 percent to $2,314.22 per ounce by 1127 GMT, after falling yesterday, Wednesday, to its lowest levels since June 10.
US gold futures increased 0.5 percent to $2,324.60.
The dollar index fell 0.2 percent after hitting its highest level in nearly two months in the previous session. The fall of the dollar increases the attractiveness of gold for holders of other currencies.
As for lowering interest rates, it reduces the opportunity cost of owning gold that does not generate a return.
As for other precious metals, silver rose in spot transactions 0.4 percent to $28.87, while platinum fell 0.3 percent to $1,008.10, and palladium fell 1.3 percent to $916.83.
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