2023-06-16 11:45:00
Gold rose today, Friday, following the dollar hovered near its lowest level in a month, but expectations of an increase in US interest rates this year limited the gains.
And gold in instant transactions increased 0.3% to $ 1964.19 an ounce by 10:30 GMT, on its way to rise 0.2% this week. US gold futures rose 0.3% to $1,976.70.
The dollar index rose, but settled near its lowest level in a month, making gold less expensive for holders of other currencies, according to Archyde.com.
After the US Federal Reserve indicated on Wednesday that interest rates may still need to rise by up to half a percentage point by the end of the year, traders expect a 25 basis point rate hike in July.
High interest rates dampen the appetite for non-yielding gold.
As for other precious metals, silver rose in spot transactions by 0.6% to $24.01 an ounce, and platinum rose 0.1% to $986.59. But the two metals are heading for a weekly loss.
Palladium fell 0.5% to $1,393.40, and is set to record its best weekly performance since mid-April.
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