Gold Prices Rise as Dollar Declines

Gold prices rose today, driven by a weaker dollar and expectations of a potential interest rate cut ahead of a highly anticipated speech by the Federal Reserve Chair.

At 08:14 GMT, spot gold increased by 0.2% to reach $3336.88 per ounce. Meanwhile, U.S. gold futures for December delivery edged up 0.1% to $3381.20.

The dollar index fell by 0.1% against other major currencies, making gold more affordable for holders of those currencies.

Other precious metals showed mixed performance. Silver dipped by 0.1% in spot trading to $37.97 per ounce, platinum climbed 0.6% to $1330.80, and palladium dropped 0.6% to $1115.37.