Gold rises with the decline of the dollar

Gold rose slightly on Monday as its attractiveness improved due to the decline in the dollar and US Treasury yields, while investors await data this week that will help them assess the pace of the economic recovery in the United States.

Spot gold rose 0.1 percent to $ 1882.20 an ounce in late trading session.

Last week, the price of the precious metal reached its highest level since the eighth of January, recording 1889.75 dollars an ounce.

Gold rose in US futures contracts 0.4 percent to record at the settlement of 1884.50 dollars an ounce.

Senior market analyst at (RJO Futures) Bob Haberkorn said that the decline in the dollar and US bond yields are in the interest of gold, adding that the rise of stock markets represents a parallel weight.

The dollar fell 0.2 percent against a basket of major currencies, and the yield on treasury bonds fell to its lowest level in about two weeks, which reduces the cost of holding the yellow metal that does not yield a return.

Analysts said a sharp fall in the cryptocurrency Bitcoin also gave support to gold prices.

Among other precious metals, silver rose 0.8 percent to $ 27.74 an ounce, while palladium fell 2 percent to $ 2727.10.

Platinum rose 0.7 percent to $ 1174.80.

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