Gold rises with the decline of the dollar and anticipation of US inflation data

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Gold prices received support from the dollar’s decline to rise today, Thursday, but the rise in US Treasury bond yields, anticipation of US inflation data and the Federal Reserve meeting limited the rise of the non-yielding metal.
And the price of gold in spot transactions rose 0.2 percent to $ 1785.78 b, while US contracts settled at $ 1786.30.
According to “Reuters”, the dollar index hovered near its lowest level since the second of December, which it recorded in the previous session, which made the possession of gold less expensive for buyers in other currencies.
The price of gold has been moving in a range between 1760 and 1790 dollars an ounce since it fell last month below the support level of 1800 dollars, while investors are cautiously assessing when the Federal Reserve will speed up the reduction of stimulus measures.
Investors’ attention now turns to US consumer price index data expected on Friday, which may influence the Federal Reserve’s decision at its meeting on December 14-15.
As for other precious metals, the price of silver in spot transactions rose 0.1 percent to $22.43 an ounce. Platinum fell 0.1 percent to $ 955.98, and palladium rose 0.7 percent to $ 1862.90.





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