Gold rises due to weak dollar and US strikes

Arab and international

Economy News – Baghdad

Gold prices rose to the highest level in more than two months, Monday, amid weak dealings at the end of the year while the US dollar went down while American military strikes in the Middle East pushed investors towards the metal, which is a safe haven.

And gold rose in spot trading 0.2 percent to 1513.29 dollars an ounce (0600 GMT) by 0633 GMT. Earlier in the session, gold hit its highest level since October 25 at $ 1515.80. In futures trading in the United States, the yellow metal fell 0.1 percent to $ 1516.60.

Gold is considered a safe investment in times of geopolitical and economic uncertainty.

Gold also supported the decline of the dollar against a basket of competing currencies, making the yellow metal cheaper for holders of other currencies.

In terms of other precious metals, silver rose 0.9 percent to $ 17.92 an ounce, while platinum increased 0.7 percent to $ 951. Palladium lost 0.1 percent to $ 1903.39 an ounce.

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