Gold prices rise due to the decline in the dollar

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Gold prices rise due to the decline in the dollar

date of publication:
June 15, 2021 8:05 GMT

Update date: June 15, 2021 8:30 GMT

Gold prices rose today, Tuesday, as the dollar’s ​​decline caused the cost of the yellow metal to decline for holders of the rest of the currencies, while investors awaited the outcome of the Federal Reserve’s meeting.

Source: Reuters

Gold prices rose on Tuesday, as the dollar’s decline caused the cost of the yellow metal to decline for holders of the rest of the currencies, while investors awaited the outcome of the US Federal Reserve meeting to elicit indications about the unprecedented monetary stimulus path.

And gold rose in spot trading 0.1% to $ 1867.83 an ounce (an ounce) by 0646 GMT, after falling to its lowest level since May 17 at $ 1843.99 on Monday.

US gold futures gained 0.2% to $1869, and the dollar fell 0.1% against its rivals.

On Wednesday, investors are awaiting the outcome of a two-day policy meeting of the Federal Reserve.

About 60% of economists polled by “Reuters” said that a highly anticipated announcement on reducing the pace of stimulus will be made in the next quarter.

There is a state of anticipation for the monthly US retail sales data due today.

Gold benefited from recent data that showed rising consumer prices in the United States, as it is considered a hedge against inflation.

As for other precious metals, silver fell 0.5% to $ 27.71 an ounce, palladium rose 0.2% to $ 2756.68, while platinum fell 0.3% to $ 1161.





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