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Gold Prices Rebound As Dollar Weakens
(MENAFN- The Peninsula)
QNA
London: Gold prices rose on Thursday after falling earlier to their lowest level in two months, supported by a weaker US dollar and lower oil prices.
Spot gold climbed 0.5% to $4,477.59 an ounce, recovering from its lowest level since late March.
US gold futures also gained 0.6% to $4,475.60.
The dollar index slipped 0.2%, making gold less expensive for holders of other currencies.
The gains came after a report said the United States and Iran were working to extend a ceasefire agreement, easing pressure on global markets.
Among other precious metals, silver rose 0.3% to $74.80 an ounce, while platinum fell 0.8% to $1,902.64 and palladium dropped 1.9% to $1,364.10.
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