Gold gains over 1 percent as dollar weakens
Gold prices rose by over 1% today after falling to their lowest level in a week, amid a decline in the dollar and investor expectations of a U.S. interest rate hike following a report indicating rising inflation. The spot gold price increased by 1.3%, reaching $4,158.63 per ounce. Additionally, December U.S. gold futures rose by 1.8% to $4,180 per ounce. Other precious metals also saw gains, with silver up 1.1% at $56.26, platinum up 0.3% at $1,611.15, and palladium up 1.3% at $1,107.83, driven by the weakening dollar and prospects of an extended rise in gold prices.
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