Gold Prices Rise as Dollar Declines

Gold Prices Rise as Dollar Declines

Singapore, May 05 (QNA) – Gold prices rose on Monday as the US dollar weakened, with investors awaiting the Federal Reserve’s monetary policy decision later this week.

Spot gold increased by 0.2% to $3,245.01 per ounce. US gold futures also rose by 0.3% to $3,252.00 per ounce.

The US dollar index fell by 0.1% against a basket of rival currencies, boosting the appeal of gold for holders of other currencies.

As for other precious metals, spot silver rose by 0.1% to $32.02 per ounce, while platinum fell by 0.5% to $954.88, and palladium slipped by 0.2% to $951.36. (QNA)

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