© Archyde.com. Gold bars are displayed in Mandresio, Switzerland, on July 13, 2022. Photo: Dennis Balibauz/Archyde.com.
(Archyde.com) – Gold prices rose in the beginning of trading in Asian markets on Monday, supported by the decline in the dollar and the possibility that the Federal Reserve (the US central bank) will slow down the pace of raising interest rates.
It rose 0.1 percent to $1929.04 an ounce at 0014 GMT.
There was little change in the American at 1929 dollars.
It fell 0.1 percent, making gold priced in US dollars cheaper for holders of other currencies.
The Federal Reserve is expected to once more slow the pace of interest rate increases at its policy meeting on January 31-February 1, while also signaling that its fight once morest inflation is far from over.
As for other precious metals, the spot price rose 0.2 percent to $24 an ounce, platinum fell 0.2 percent to $1,041.75, and rose one percent to $1,744.86.
(Prepared by Ahmed Sobhi for the Arabic Bulletin)
