Monday , August 2 2021

Gold rises as the dollar falls against the background of the nebulous interest rate rise in the US Market talks

Gold prices rose to a two-week high while the dollar dropped in a cloud of interest rate hikes from the Federal Reserve, which also supported the yellow metal.

Gold futures rose 0.5% to $ 1226.61 an ounce after reaching a peak on Nov. 7 worth $ 1230,07 an ounce before the Thanksgiving holiday was announced.

Gold in the US futures futures contract rose by $ 6.80, or 0.6%, to $ 1228 per troy ounce.

The dollar has been pressured this week by cautious comments from Federal Reserve officials about a possible global slowdown, which raises doubts about the rate of increase in US interest rates.

Among other precious metal spot silver jumped 1.3 percent to $ 14.50 an ounce. Silver rose to its highest level since November 8 at $ 14.55 per ounce in yesterday's session.

Palladium rose 0.9% to $ 1149.99 per troy ounce while platinum rose 0.9% to $ 845.50 an ounce.

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