Gold surpasses $4,600 amid dollar decline
Gold has surpassed the $4,600 mark per ounce, reaching its highest level in more than three months, due to the decline of the dollar which made the yellow metal more attractive to investors. Gold prices rose by over 2% in spot transactions and the increase extended to futures, with expectations of continued rise toward the $4,700 level if the pressure on the US currency persists and liquidity in the debt market remains abundant. This increase is attributed to the dollar's weakness and assurances of US government plans to inject liquidity, while the question remains about gold's ability to challenge the current interest rates set by the Federal Reserve.
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