Commodities
Weaker Dollar Boosts Gold Price to $4,376.02 Per Ounce
Gold prices experienced an uptick in trading due to a weaker US dollar. The Federal Reserve's decision not to raise interest rates next month has fueled expectations of stability, supporting gold prices.
The spot price of gold rose by 0.6% to $4,376.02 per ounce after declining around 1.3% the previous day as investors took profits following a recent high reached on June 5.
A slight increase in US inflation data also contributed to the gold price rise. US gold futures increased by 0.3% to $4,433.90 per ounce, and silver gained 1% to $65.08 per ounce. Other precious metals, platinum and palladium, rose 0.9% each to $1,733.34 per ounce and $1,318.50 per ounce respectively.