Gold higher on weaker dollar after G20 summit
Precious metals continued to trade in the green on Monday with gold ticking higher as the US dollar grew weaker following the remarks on the US world trade position at the G20 summit. As the dollar fell to a six-week low, gold traded above the highest value in two weeks. The yellow metal has been following the upward trend since the US Federal Reserve’s decision last week to raise interest rates for 0.25 percentage points.
Spot gold price gained 0.38%, changing hands for $1,234.04 per ounce at 9:16 pm CET. Silver traded slightly higher, rising 0.10% at $17.42 per ounce at the same time. Meanwhile, platinum added 0.67% to trade for $970.50 per ounce at 9:13 pm CET while palladium increased 0.71% at $782.50 per ounce at 9:13 pm CET.
The US dollar shed 0.03% lower at 0.9310 at 9:18 pm CET. The greenback increased 0.34% to trade for 0.8094 at 9:19 pm CET.