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Gold prices are rising as appetite increases, supporting the dollar's decline
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Gold prices rose on Wednesday, May 5, supported by the dollar's decline, but the gains were limited after US Treasury Secretary Janet Yellen said interest rates may need to be raised.
Spot gold rose 0.2% to 1,781.13 dollars an ounce by 04:42 GMT. US gold futures rose 0.3% to $ 1781.50.
The dollar index fell 0.1% against other major currencies, after rising to a peak of nearly two weeks in the previous session.
As for the other precious metals, palladium increased 0.6% to $ 3000.46 an ounce, after hitting an all-time high of $ 3017.18 in the previous session, supported by fears of a lack of metal supplies.
Silver settled at $ 26.52, while platinum fell 0.1% to $ 1236.04, extending away from the more than two-month peak it touched yesterday.
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