Gold prices morning rose slightly on October 3, exceeding $1,670 per troy ounce, Report informs referring to the auction data.
December New York Comex gold futures rose $0.95, or 0.06%, to $1,672.95 a troy ounce. December futures for silver rose 2.01% to $19.422 an ounce.
Last week, gold rose by almost 1.8%, from $1,656 to $1,685 amid depreciation of the dollar. At the same time, gold has been getting cheaper every month since April, during which time the metal has lost 14% of its value.
The dollar index (the rate against a basket of currencies of six countries - US trading partners) fell 1% a week earlier, to 112.1 points from 113.2 points. The low dollar rate supports the demand for gold, which in this case becomes more accessible to investors who own other currencies.