Gold prices up, supported by the decline in the dollar

Gold prices rose today, Monday, in early Asian transactions, supported by the decline in the US dollar, although the prospect of raising US interest rates again this year to curb inflation negatively affected the appetite for the precious metal.

And by 0051 GMT, gold in instant transactions increased 0.3 percent to $ 1926.29 an ounce. And US gold futures rose 0.3 percent to $ 1936.10 an ounce.

According to “Reuters”, the dollar index fell 0.2 percent, which makes gold more attractive to buyers than holders of other currencies.

Gold fell 1.8 percent last week, after statements related to tightening monetary policy by several US central bank officials.

As for other precious metals, silver rose 0.7 percent to $22.57 an ounce. Platinum rose 0.8 percent to $924.13 an ounce. Palladium rose 1 percent to $1,297.63 an ounce

Palladium fell to a four-year low of $1,269.09 an ounce on Thursday.