Gold rises to its highest price in 3 weeks

Gold rises to its highest price in 3 weeks

Gold prices rose, its highest price in three weeks during trading today Althelathaea, with the continued weakness of the dollar against the backdrop of expectations that the Federal Reserve will adhere to a cautious approach to monetary tightening.

At the COMEX division of the New York Mercantile Exchange, gold futures for March delivery rose / March to trade at $ .264.6 per ounce since 22 March / March and was last trading at $ 1.262.8 per ounce.

The dollar index, which measures the strength of the Dollar against a basket of six major currencies, to 93.95, not far from the lowest price on Monday of 93.74, the lowest level since October / October.

The dollar fell across the board after the recent dovish comments from Fed President Janet Yellen, which prompted investors to exclude expectations about the timing of a rate hike.

Little reaction to the comments of Fed Chairman Robert Kaplan, who said on Monday he was "very open" to determine whether to raise interest rates in June the bank's meeting, while a rate hike ruled in April the dollar did not appear.

An increase in interest rates strengthen the dollar by making it more attractive for producers seeking returns while weighing raise interest rates on the price of gold by making it more expensive for holders of other currencies.

Gold has risen more than 19% so far this year, as the rising turmoil in the markets because of the sharp decline in China's stock and currency markets and worries about the banking sector's health in Europe boosted investor demand for gold and other safe-haven assets, including the yen.

Elsewhere in the metals trade silver futures rose, May delivery rose 0.9% to $ 16.09 per ounce, while copper May delivery rose 0.74% to record US $ 2.106 a pound.