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Gold prices rose at the beginning of trading in the Asian markets today, supported by the decline in the dollar, and the prospects for the Federal Reserve in the United States to slow down the pace of raising interest rates.
Reuters reported that the price of gold rose 0.1 percent to 1929.04 dollars an ounce, while there was little change in futures contracts for US gold, to remain at 1929 dollars.
The dollar index fell 0.1%, making gold priced in US dollars cheaper for holders of other currencies.
It is expected that the Federal Reserve will again slow down the pace of interest rate increases during its public policy meeting on January 31 and February 1, while also indicating that its battle against inflation is far from over.
As for other precious metals, the spot silver price rose 0.2 percent to $24 an ounce, platinum fell 0.2 percent to $1041.75, and palladium rose one percent to $1744.86.
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