Gold Prices Surge as Dollar Weakens

The gold market witnessed a slight increase today, Thursday, as influenced by the modest decline in the U.S. dollar. Investors are eagerly awaiting the outcome of discussions between U.S. President Donald Trump and Chinese President Xi Jinping regarding a trade agreement.

By 0235 GMT, spot gold had risen 0.2 percent, reaching $3937.88 per ounce. Meanwhile, U.S. gold futures for December delivery fell by 1.2 percent, to settle at $3950.70 per ounce.

The dollar index dropped 0.2 percent after hitting its highest level in two weeks compared to other major currencies in the previous session, making gold more affordable for those holding other currencies.

As for other precious metals, silver held steady in spot trades at $47.51 an ounce. Platinum saw an increase of 0.3 percent, reaching $1590.21, and palladium jumped 1.2 percent, hitting $1417.80.