Gold prices rose today with the decline of the dollar and US Treasury bond yields amid growing expectations that US interest rate cuts may begin next September, while investors await US non-farm payrolls data.
The price of gold increased by 0.8% to $2,373.31 per ounce, following a 1% rise in the last session. US gold futures also rose by 0.7% to $2,392.80.
The dollar index fell by 0.2%, hovering around its lowest level in nearly two months, while standard 10-year US Treasury bond yields remained near their lowest levels in more than two months.
In other precious metals, silver rose by 1.8% in spot transactions to $30.54 per ounce. Platinum increased by 1.2% to $1,003.95, and palladium rose by 1.2% to $942.75.
