Gold rises with the weak dollar

Gold prices rose today, amid continuing pressures on the dollar, as investors follow the massive stimulus package announced by US President Joe Biden's administration.

Spot gold rose 0.2% to $ 1855.40 an ounce by 0958 GMT in volatile trading.

US gold futures were down 0.1% at $ 1854.80.

"It is clear that the economy is very fragile, so there is a lot of support for fiscal and monetary stimulus, and as such, the dollar remains relatively weak, which could boost gold," said independent analyst Ross Norman.

The two-day policy meeting of the US Federal Reserve is due to begin on Tuesday.

The dollar settled near its lowest levels in one week, which reduces the cost of gold for holders of other currencies.

As for the other precious metals, silver rose 0.8% to $ 25.59 an ounce.

Platinum also rose 0.3% to $ 1,101.60 and palladium 0.2% to $ 2,358.26.

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