Gold prices rise amid expectations of Fed decisions, strengthening dollar

Gold prices rose slightly on June 6 morning, Report informs referring to the auction data.

The price of August gold futures on the New York Comex exchange rose by $1.2 (0.06%) to $1,975.45 per troy ounce. July silver futures rose 0.14% to $23.668 an ounce.

A slight increase in the cost of the precious metal may be facilitated by the depreciation of the dollar.

The dollar index (the exchange rate against a basket of currencies of six US trading partners) fell by 0.13% to 103.86 points. The depreciation of the dollar makes gold more affordable to buy in another currency.