The price of December gold futures on the New York Comex exchange rose by $3.15 (0.16%) to $1,949.35 per troy ounce. December silver futures rose 0.15% to $23.422 an ounce.
The dollar index (the rate against a basket of currencies of six US trading partner countries) fell by 0.07% to 105.25 points. A cheaper dollar makes gold more accessible to purchase in other currencies.
Traders expect the Federal Reserve to announce the results of its next two-day meeting on Wednesday. According to forecasts, the regulator may keep the discount rate at 5.25-5.5% per annum after increasing it in July. Traditionally, dovish signals from the Fed negatively affect the dollar and support gold.
www.anews.az
Follow us !
