Gold Prices Today Settle Supported by Dollar Decline

Gold Prices Today Settle Supported by Dollar Decline

Gold price settled Thursday with the dollar’s decline , following the publication of the minutes of the Fed meeting, which excluded the US central bank to raise interest rates in June.

By 1011 GMT, the price of gold settled in spot transactions unchanged at $ 1208.46 an ounce, while the price of the metal, rose in the US futures contracts for delivery in June, 0.1 percent to $ 1209.50 an ounce.

The minutes showed the Fed meeting in April, which was published Wednesday, that the bank’s policy-makers believe that it is premature to raise interest rates in June.

This view prevailed in the market, following the release of US economic data disappointing in recent weeks, impacted negatively on the dollar, including in turn contributed to the rise in gold to its highest level in three months at $ 1232.20 an ounce, on 14 May

The lecturer pointed out that the bank officials evacuated their expectations to raise interest rates until later in the year, further weakening investor appetite for the dollar, which is down 0.4 percent against a basket of major currencies.

Among other precious metals silver rose 0.4 percent, to $ 17.15 an ounce.

Platinum fell 0.1 percent to $ 1150.25 an ounce, while palladium rose 0.5 percent to $ 776.50 an ounce.

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