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Gold rises as dollar declines

Gold rises as dollar declines

October 03, 2022 | 10:59 AM
The dollar index fell 0.2%, making gold, which is priced in the greenback, more attractive to holders of other currencies.

Gold prices rose weakening dollar on Monday, despite central banks' maintaining their strict monetary policies to combat rising inflation.

Spot gold rose 0.3% to $1,665.29 an ounce. US gold futures rose 0.1% to $1,673.30 an ounce.

The dollar index fell 0.2%, making gold, which is priced in the greenback, more attractive to holders of other currencies.

Elsewhere in precious metals, spot silver rose 0.7% to $19.12 an ounce, platinum rose 0.3% to $861.50 an ounce and palladium rose 0.5% to $2,167. .75 USD/ounce.

October 03, 2022 | 10:59 AM