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Gold rises on weaker US dollar
Finance
- 27 December, 2022
- 06:15
The price of gold rose by about 0.5% on Tuesday morning, Report informs.
February gold futures on the New York Comex rose $8.65, or 0.48%, to $1,812.85 a troy ounce. March silver futures rose 0.89% to $24.133 an ounce.
Bloomberg said that gold edged up to trade above $1,800 an ounce as China lifted more COVID restrictions, putting pressure on the US dollar. Thus, the dollar index (the exchange rate against a basket of currencies of six US trading partners) fell by 0.24% to 104.29 points. In this case, the gold becomes more affordable when purchased in another currency.
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