Gold prices rise as the dollar falls

Gold prices rebounded once more on Thursday, as a weaker dollar and lower US Treasury yields, along with a drop in risky assets, revived demand for the safe haven of value amid concerns regarding global growth.
The price of gold in spot transactions jumped 0.8% to $ 1829.20 an ounce by 1008 GMT, while US gold futures rose 0.7% to $ 1827.70.

The dollar fell 0.3%, while US Treasury yields fell to their lowest levels in a week, making gold cheaper for foreign investors.

European shares also fell today following heavy selling on Wall Street overnight, prompting investors to turn to gold as a safe haven asset.

Gold prices fell to their lowest level in 4 months earlier this week and have risen regarding 2% since the dollar retreated from its highest level in 20 years.

Among other precious metals, spot silver prices rose 0.7% to $21.53 an ounce, platinum rose 0.1% at $935.93, while palladium fell 1.8 percent to $179.38.