Rising gold prices | phalanx

2023-07-15 19:07:25

Source: Sky News

Gold prices rose during the past week, after rising near its highest level in one month, as market expectations of a US interest rate hike diminished, which led to the dollar falling to its lowest level in more than a year.

The dollar index touched its lowest level since April 2022, making gold less expensive for buyers from abroad.

Gold in spot transactions also witnessed an increase of 1.57 percent during a week, to reach the level of $ 1955.21 an ounce, despite the decline in the yellow metal in the last trading week, Friday, by 0.27 percent.​

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