Gold price exceeds $1,730 per ounce

The price of gold exceeded $1,730 per troy ounce today, Report informs.

The price of December futures for gold on the New York Comex rose by $10.9, or 0.63%, to $1,731.7 per troy ounce. December futures for silver rose 1.69% to $20.892 an ounce.

Markets continue to evaluate the prospects around the monetary policy of the US Federal Reserve System, whose meeting is scheduled for early November. Unemployment statistics will be published on Friday, which may give clues about the pace of the rate hike.

Traditionally, a rate hike has supported the dollar, making gold less available to buy in other currencies.