The price of gold has slightly increased amid the decline in the dollar exchange rate, Report informs referring to the trading data.
The price of August gold futures on the New York Comex exchange rose by $2.32 compared to the previous close, or by 0.07%, to $3,345.12 per troy ounce.
September silver futures rose by 0.44% to $37.068 per ounce.
At the same time, the dollar index (the exchange rate against a basket of currencies of six countries - US trading partners) fell by 0.23%, to 97.34 points.
The decline in the dollar exchange rate increases the demand for gold from holders of other currencies. Gold quotes may be supported by a potential increase in demand for reliable assets amid concerns about global trade.
On July 7, US President Donald Trump announced the introduction of additional import duties on goods from a number of countries, including Serbia, Bosnia and Herzegovina, and Indonesia, effective August 1.