Gold prices stable amid dollar’s depreciation

Gold prices rose slightly on June 2 morning, Report informs referring to the auction data.

The price of August gold futures on the New York Comex exchange rose by $0.55 (0.03%) to $1,996.05 per troy ounce. July futures for silver rose 0.25% to $24.047 an ounce.

Since the beginning of the week, the price of gold may show an increase of 2.7%, this will be the first increase after three weeks of decline in a row. A weaker dollar supported gold as the precious metal then becomes more available to buy in other currencies.

The dollar index (the exchange rate against a basket of currencies of six US trading partners) has decreased by 0.64% since the beginning of the week.