Gold prices rise

Gold prices rose slightly in anticipation of the depreciation of the US dollar, Report informs referring to the auction data.

The price of February gold futures on the Comex New York stock exchange rose 0.14%, or $2.45, to $1,811.25 per troy ounce.

Investors are expecting a weakening dollar, which is still stable, which could be facilitated by a further reduction in fears about the omicron coronavirus strain.

At the same time, the demand for hedging risks may support the rise in prices for precious metals, but so far gold’s attempts to achieve a significant recovery in value remain unconvincing: traders reduce positions at the first sign of distress in the markets, according to analysts.