The rise in gold prices and the decline of the dollar
Gold prices rose at the beginning of trading in the Asian markets today, supported by the decline of the dollar and the possibility that the Federal Reserve (the US Central Bank) will slow down the pace of raising interest rates.
The price of gold rose 0.1% to $1929.04 an ounce at 0014 GMT.
There was little change in US gold futures at $ 1929.
The dollar index fell 0.1%, making gold priced in US dollars cheaper for holders of other currencies.
The Federal Reserve is expected to again slow the pace of rate hikes at its public policy meeting on January 31-February 1 while also signaling that its fight against inflation is far from over.
As for other precious metals, the spot silver price rose 0.2 percent to $24 an ounce, platinum fell 0.2 percent to $1,041.75, and palladium rose 1 percent to $1,744.86.
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