Gold price jumps to $ 1213/oz

Gold price jumps to $ 1213/oz

Spot gold jumped 1 per cent on Tuesday afternoon, according to Greenwich Mean Time, and reached its highest level in three weeks, from stable to $ 1213.1 an ounce.

It came after the price of gold rose earlier Tuesday to more than $ 1,200 an ounce, driven by the decline in the dollar before the US central bank meeting, amid the prospect that may indicate the timing of raising interest rates in the United States.

It has increased the price of gold before noon, according to Greenwich Mean Time, in online transactions increased by 0.2 per cent to settle at $ 1202.85 an ounce, after jumping about 2 per cent in the previous session in which the yellow metal rose to its highest level in a week at $ 1207.01 an ounce.

Gold settled in the US futures contracts for June delivery was unchanged at US $ 1203 an ounce.

Said an analyst at “ABN AMRO” Georgette Boyle “There is a lot of volatility in the trading of gold and silver during the meeting and the general situation remains negative. Issue more US data in the coming weeks and if the disappointment continued, the gold may find a measure of support.” .

The dollar slipped 0.5 per cent in front of a series of major currencies before the release of US consumer confidence and housing data that will shed more light on the world’s largest economy condition.

It is scheduled to hold the Federal Reserve (central bank) meeting Tuesday and Wednesday to issue a statement later Wednesday.

Among other precious metals silver rose 0.2 per cent and the price of an ounce to $ 16.38, after the gains achieved 4.3 per cent in the previous session thanks to gold offers.

Platinum fell 0.8 per cent to $ 1139.50 an ounce after jumping 2.3 percent Monday, while palladium lost 0.2 per cent of the price of an ounce to settle at $ 775.95.

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