Gold rises… and the dollar falls

Gold prices rose yesterday, as it increased in spot transactions by 0.8% to $4,107.69 per ounce after falling, the day before yesterday, to its lowest level since the first of July. US gold futures for August delivery rose 0.9% to $4,117.30, and the dollar fell 0.1%, making buying gold priced in the US currency less expensive for holders of other currencies.

While gold is seen as a hedge against inflation, high interest rates usually negatively affect the metal, which does not generate a return. In turn, silver rose in spot transactions by 1.5% to $59.14 per ounce, while the price of platinum rose by 2.2% to $1,611.83.