Gold prices rise globally due to the weak American data and the decline in the dollar

Gold prices rose during Friday’s trading, heading towards achieving weekly gains supported by the weak American economic indicators, which strengthened the demand for yellow metal as a safe haven, in addition to the decline in the dollar, which increased the attractiveness of gold for investors.

According to the circulating data, the price of gold in immediate transactions increased by 0.3% to $ 2361.36 an ounce, recording a weekly increase of 2.3%.

The US gold futures also rose to the same percentage to record $ 2384.40 an ounce.

This rise coincides with the decline in the dollar index, which is heading towards a weekly loss, making gold more low in cost for other currencies.

Recent data also showed the number of Americans applying for unemployment aid to the highest level in seven months, which increased fears of slowing down the American economy.

In terms of other precious minerals, silver in immediate transactions decreased by 1.2% to $ 35.71 an ounce, but it has been close to its highest levels in 12 years.

While platinum increased by 0.3% to $ 1034.34, and palladium settled at $ 1005.88, as the three minerals were expected to achieve weekly gains.