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الشارقة 24
Gold Gains on Dollar Weakness and Rate Hike Expectations
Gold prices increased today by 0.1% in spot transactions, reaching $4,145.22 per ounce, amid a decline in the dollar and investors awaiting the U.S. Federal Reserve's meeting next week to determine the course of interest rates. The market relies on expectations that the Federal Reserve will keep interest rates unchanged during the meeting, with an 89% chance of a rate hike in December. The decline in the dollar makes gold cheaper for buyers using other currencies, while easing tensions in the Middle East and falling oil prices also support the prices of the precious metal. Additionally, other precious metals rose, as platinum and silver increased by 0.7%, while palladium decreased by 0.2%.
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