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Commodities

Gold Prices Rally on Weaker Dollar Amid Geopolitical Uncertainty

Guavy AI Editorial Team
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Gold Silver
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Gold prices rose on Monday, August 3, as a weaker US dollar made the precious metal cheaper for overseas buyers and increased its appeal as a safe-haven asset.

The spot gold price was up 0.6 per cent or USD 25 at USD 4,066.28 per ounce, while spot silver gained 0.5 per cent, rising USD 0.31 to trade near USD 58 per ounce.

A weaker US dollar typically supports precious metals by making them more affordable for holders of other currencies and enhances gold's attractiveness as an alternative store of value.

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