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Gold prices rise to a higher level with the fall of the dollar
19/07/2017
Gold prices rose to their highest levels in more than two weeks with support from expectations of higher demand in the spot market and a falling dollar with receding expectations for an imminent in US interest rates.
The dollar fell to its lowest level in ten months against a basket of currencies, which makes metals denominated in US currency less expensive to holders of other currencies to support demand.
The dollar fell because of the decline in confidence in US President Donald Trump's policies and concerns about tightening monetary policies of central banks abroad.
And increased gold in the spot market 0.7 percent to $ 1242.41 an ounce (an ounce) by 1815 GMT after hitting its highest level since June 30 at $ 1244.30 an ounce.
It stepped up futures contracts for gold in the United States 0.7 percent to reach at 1241.90 dollars an ounce settlement.
Among other precious metals silver rose 1.4 percent to $ 16.29 an ounce after touching its highest level in two weeks at $ 16.34 an ounce
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