The decline of the dollar pushes gold to rise again
Capitals, 9 February / WAM / Gold prices rose two percent today, supported by a decline in the dollar, at a time when investors are anticipating a week full of American economic data. Gold in spot transactions rose 1.9 percent to $5,056.21 per ounce by 1835 GMT, continuing the rise that reached four percent since Friday.
US gold futures for April delivery rose 2 percent to $5,079.40 per ounce.
The dollar fell 0.8 percent to its lowest level in more than a week, making dollar-denominated gold less expensive for foreign buyers.
Low interest rates provide support for gold because they reduce the opportunity cost of holding the non-yielding metal.
Data issued by the People’s Bank of China on Saturday showed that the central bank extended the pace of buying gold for the fifteenth month in a row in…
January . Silver rose in spot transactions by 6.3 percent to $82.86 per ounce, after gains of nearly ten percent in the last session. And I recorded
Silver hit an all-time high of $121.64 on January 29.
As for other precious metals, the price of platinum in spot transactions rose 0.8 percent to $2,112.56 per ounce, and the price of palladium rose.
1.3 percent to $1,727.75.
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