Gold rises for a second day with the dollar falling

File Reuters

UNITED STATES (VOP TODAY NEWS) — Gold prices rose for a second straight session on Monday as the dollar fell after negative US data boosted opportunities for the US Federal Reserve to adopt a stance that tends to ease monetary policy at its scheduled meeting this week.

Spot gold rose 0.2 percent to $ 1303.92 an ounce by 0804 GMT. Gold futures gained 0.1 percent to $ 1303.80 an ounce.

The US central bank will start its interest rate meeting on Tuesday and the meeting will end with a press conference on Wednesday.

US manufacturing output fell for the second straight month in February and factory activity in New York State hit its lowest level in almost two years this month, demonstrating the importance of the US central bank’s “patience” stance on further increases In interest rates this year.

Markets are now expecting no rate hikes this year, and they are even betting on a cut in interest rates in 2020.

The dollar index fell 0.2 percent after hitting its biggest weekly drop since early December last week.

For other precious metals, palladium rose 0.1 percent to $ 1562.01 an ounce, near the record high of $ 1567.50 last session.

Silver rose 0.4 percent to $ 15.33 an ounce, while platinum rose 0.5 percent to $ 832.25 an ounce.

This article is written and prepared by our foreign editors writing for VOP from different countries around the world – edited and published by VOP staff in our newsroom.

Our Standards, Terms of Use: Standard Terms And Conditions.


Support The VOP from as little as $1 – it only takes a minute. Thank you.

We are the Voice of People — the only funding and support we get from people – we are categorically not funded by any political party, any government somewhere or from any grouping that supports certain interests – the only support that makes VOP possible came from you.

[give_form id=”42307″]

VOP Today News — Breaking news source, real-time coverage of the world’s events, life, politics, business, finance, economy, markets, war and conflict zones.

Contact us:

Stay connected with VOP Today News on Twitter – VOP Today News on Facebook, also with our online services and never lost the breaking news stories happening around the world.