According to the auction, the December futures for gold on the new York stock exchange Comex rose in price to 1177,20 dollars per Troy ounce on falling dollar.
MOSCOW, 20 Oct. Gold prices are rising on Tuesday, taking advantage of a slight depreciation of the U.S. currency, according to AFP.
As at 17.08 GMT December futures for gold on the new York stock exchange Comex rose in price 4,40 USD or 0.38%, to 1177,20 dollars per Troy ounce. The cost of December futures for silver increased by 0.44% to 15,91 USD per ounce.
The dollar index (the dollar against a basket of currencies of six major U.S. trading partners) was down 0.12% to 94,80 item. Gold is traded in dollars, becomes cheaper for investors holding foreign currency, which occupies the stronger position.
Some traders and analysts believe that the role of the metal as a safe asset has decreased in recent years. Gold prices will stay volatile in the waiting period for indications on when the fed will raise rates.
“Today basically controls the currency performance”, — told the newspaper The Wall Street Journal commodity analyst at Julius Baer in London into Carsten (Carsten Menke).