Gold prices rise from their lowest level in a month and a half after the decline of the US dollar

Gold prices managed to rise during trading today, Tuesday, in the European session, after the losses recorded yesterday, as they reached their lowest levels in a month and a half. At the British Academy in London.

At 08:35 GMT, gold prices rose, gaining $3.80, or 0.3%, to reach the price of an ounce at $1250.20, after recording its lowest level in a month and a half at 1236.50 during the last session’s trading due to the rise in global stock indices, which weakened the demand for buying havens. Safe.

At 17:00 GMT, the President of the Federal Reserve, Janet Yellen, will speak at the British Academy in London. .

gold prices

gold prices

On the same day, the President of the Reserve Bank of Philadelphia, Patrick Harker, will speak about his economic outlook and international trade at the Center for European Economics and Finance in London.

Several members of the Reserve Bank had stated earlier their support for raising interest rates for the third time, despite the weak economic data, while investors' doubts about the bank's ability to raise interest rates for the third time in a row increased.

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On the economic data front, the US economy will release its house price index and other data on consumer confidence later in the day.

As for other precious metals, silver prices rose to gain 6.5 cents, or 0.4%, to reach the price of an ounce at $16.63, after hitting a seven-week low of $16.22.

Platinum also rose by about 0.4% to reach a price of $921.45, while palladium settled at its levels unchanged at $864.05.

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Mohamed Abdel Khaleq

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