Gold prices soared today to their highest level since August. as the dollar weakens While investors responded to the news that China gradually eased the policy of COVID-19 to zero
Bloomberg News reported that The price of gold surpassed $1,800/ounce last week. This was boosted by the US Federal Reserve (Fed) signaling a slowdown in interest rate hikes. which weakens the dollar
In addition, expectations regarding China’s opening up have weighed down the US dollar. and support the price of gold today The depreciation of the dollar causes gold contracts, which are priced in dollars. It is cheaper and more attractive to investors holding other currencies.
As of 10:35 a.m. Singapore time, spot gold was up 0.5 percent to $1,807.10 an ounce. The dollar spot index (Bloomberg Dollar Spot) fell 0.3 percent, near a five-month low.
Palladium, silver and platinum prices also rose.
By InfoQuest News Agency (05 Dec. ’22)
Tags: lifestyle, gold, gold price
