Commodities
Weaker US Dollar Lifts Gold Prices to Two-Month High
Gold prices continued their upward trend as a weaker US dollar made precious metals more affordable for holders of other currencies. Spot gold rose 0.4% to $4,391.07 per ounce by 0248 GMT, reaching a two-month high last week.
The US dollar index fell 0.1%, contributing to the increase in demand for gold and other precious metals. This shift is particularly beneficial for dollar-priced precious metals, making them more accessible to investors from abroad.
Among other precious metals, silver rose 1.4% to $65.53 per ounce, while platinum gained 0.3% to $1,752.36 per ounce and palladium increased by 1.6% to $1,333.35 per ounce.