On December 1, gold rose in price by 3.5% due to the weakening dollar.
The price of February futures for gold on the New York Comex exchange fell by $4.5, or 0.25%, to $1,810.7 per troy ounce. March silver futures fell 0.08% to $22.823 an ounce.
The dollar index (the exchange rate against a basket of currencies of six US trading partners) fell 1.1% a day earlier to 104.73 points. On December 2, the index is generally stable. The depreciation of the dollar makes gold more affordable to buy in another currency.
The weakening of the US currency is connected with the expectations of some easing of the policy of the US Federal Reserve System (FRS). If, following the results of the previous four meetings, the Fed raised the rate by 75 basis points, in December, most experts predict an increase of only 50 basis points, up to 4.25-4.5% per annum.
www.anews.az
Follow us !
