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Gold prices go up with the fall of the dollar


London, SANA- Gold prices rose today amid the decline of the dollar, and investors' anticipation of imminent US economic data


Gold prices rose today amid a decline in the dollar, and investors await imminent US economic data that provides a clearer picture of the path of raising interest rates from the US Central Bank.

Reuters reported that the spot gold price rose 0.2 percent to $1844.59 an ounce, after hitting its lowest level since late December in the previous session.

US gold futures rose 0.2 percent to $1,853.50.

As for other precious metals, the price of silver in spot transactions rose 0.1 percent to $ 21.75 an ounce, platinum rose 0.6 percent to $ 922.29, and palladium increased 0.5 percent to $ 1505.44.

The dollar index is down slightly today from its highest level in more than a month hit on Friday, making US dollar-denominated bullion more attractive to buyers holding other currencies.

Financial markets now expect the Federal Reserve to raise interest rates to just under 5.3 percent by July.

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Source: sena

All business articles on 2023-02-20

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