London-Sana
Gold prices rose today as the dollar and US Treasury yields fell amid expectations that the Federal Reserve may slow the pace of interest rate hikes.
Reuters reported that the price of gold increased in spot transactions by 0.7 percent, recording 1663.26 dollars an ounce, while US gold futures rose 0.6 percent to 1667.10 dollars an ounce.
Ten-year US Treasury yields fell as weak US data fueled speculation about a less hawkish monetary policy trend from the US Central Bank, while the dollar index touched its lowest level since October 5, which increased the attractiveness of the yellow metal to holders of other currencies.
For other precious metals, silver increased 1.1 percent to $19.56 an ounce, platinum rose 0.9 percent to $922.90 an ounce, and palladium rose 2.1 percent to $163.81.
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