Gold is rising and attention is focused on the “European Central”

LONDON (Archyde.com) Gold prices rose slightly today, with the dollar weakening, but an increase in US bond yields limited its rally, while investors focused on the European Central Bank bankers forum in Portugal. Spot gold rose 0.2 percent to $ 1826.09 an ounce ( ounce) by 09.35 GMT. And US gold futures rose 0.1 percent to $ 1827.30. The dollar’s decline made buying gold more attractive to buyers in other currencies, but the rise in US 10-year bond yields limited the appetite for buying the non-yielding precious metal. Alongside the dollar’s decline, gold benefited from gains in the commodity markets in general, said analyst Peter Fertig of Quantitative Commodity Research. Federal Reserve Chairman Jerome Powell was among a group of central bankers who attended the annual forum in Portugal. While the European Central Bank is expected to raise interest rates for the first time in ten years next month, its president, Christine Lagarde, said the bank would act gradually, but with the option to act decisively in the event of any deterioration in the inflation rate in the medium term. Global stock prices also rose and oil prices rose on the hope that demand from China would improve.