Gold rises with the stability of the dollar

Gold rises with the stability of the dollar

Posted 05/05/2015 02:21 PM

Gold rises with the stability of the dollarThe price of gold rose on Tuesday as the dollar pick up his breath before the jobs data in the US non-farm payrolls later this week which may give indications on the timing of the lifting of the Federal Reserve (the US central bank) interest rates.

And went down in the spot price of gold transactions in the beginning and then rose 0.3 percent to $ 1191 for ounce by 1143 GMT. And it increased the price of the metal in the US futures contracts for June delivery of $ 3.30 to $ 1190.10 an ounce.

The dollar squandered early gains to settle down against a basket of major currencies.

Gold fell to its lowest level in six weeks to $ 1170 an ounce on Friday after the Fed indicated that it believes that the US economic slowdown is temporary does not rule out a rate hike this year.

Among other precious metals silver price rose 0.6 percent to $ 16.48 an ounce after jumping to its highest level in four weeks on Monday.

Platinum fell 0.1 percent to $ 1142.99 an ounce, while palladium price increased 0.3 percent to $ 784.45 an ounce.