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Gold bars of 100 grams each: The price for a troy ounce rises to 1,775 US dollars
Photo: Armin Weigel / dpa
The gold price has risen again - and has thus continued its rise of the past few trading days.
In the early afternoon, the price of a troy ounce (about 31.1 grams) rose to almost 1,775 US dollars.
This is the highest level in about a month.
The silver price also continued to rise and, at just under $20.5, is also the highest it has been in a month.
Precious metals are currently receiving support from two sides that are connected to each other.
On the one hand, the dollar has been trending weaker for a few days, on the other hand, the high interest rate expectations of the US Federal Reserve have recently fallen somewhat.
Declining interest rate expectations are weakening the dollar by making investments in the US currency less attractive.
Both developments are having a supportive effect on the price of gold.
First, because gold is traded internationally in US currency.
So if the dollar rate falls, interested parties who pay in other currencies have to spend less on gold due to the exchange rate.
In addition, an important argument against gold and silver loses weight as interest rate expectations fall.
Although precious metals are popular as protection against inflation and crises, they do not generate any current income like fixed-income securities, for example.
ani/dpa
