Gold Price Increases as Dollar Weakens Amid Expectations of Reaching $2100

  • International
  • 9 May 2023
1

Gold prices rose as the dollar weakened and investors awaited US inflation data due this week that could affect the Federal Reserve's future monetary policy.

Spot gold rose 0.2 percent at $2,020.80 an ounce. U.S. gold futures rose 0.2 percent to $2,029.30. The dollar index fell 0.1 at a hundred, making the yellow metal more attractive to overseas buyers.

Gold will be among the "main beneficiaries" if there are other signs of a weakening U.S. economy and prices could move to $2,100 sooner rather than later.

Source (Al-Arabiya.net Website, Edited)

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