© Reuters. Gold bars in a photo from the Reuters archive.
(Reuters) – It rose to its highest level in nearly a month on Thursday, buoyed by declines and yields, as investors assessed whether the Federal Reserve would tighten monetary policy earlier than expected.
And rose 0.3 percent to $ 1797.27 an ounce by 0920 GMT, after hitting its highest level since September 15 at $ 1797.31, while US gold futures rose 0.2 percent to $ 1797.90.
The dollar and benchmark 10-year US Treasury yields fell today.
Independent analyst Ross Norman described the rally in gold as “constructive” but said it should break the technical resistance levels at $1800 and $1,835 before any other big move higher.
For other precious metals, it rose in spot transactions 0.9 percent to $23.28 an ounce, and platinum rose 1.6 percent to $1036.52, while it increased 3.7 percent to $2,184.26.
(Prepared by Lubna Sabry for the Arab Newsletter – Editing by Ahmed Sobhi)
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