Gold Rises 0.7% As Dollar Weakens

Image Credit : WAM
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Source : WAM

Gold prices moved higher this morning, supported by a weaker dollar and lower US Treasury yields.

Spot gold climbed 0.7 percent to US$5,112.34 per ounce, while US gold futures for April delivery slipped 0.2 percent to $5,115.80.

The dollar weakened slightly, making commodities priced in dollars, such as gold, more affordable for buyers using other currencies.

Among other precious metals, spot silver rose 1.5 percent to $85.03 per ounce. Platinum advanced 1.3 percent in spot trading to $2,159.01, while palladium gained 0.8 percent to reach $1,630.71.