Gold prices rise, head for fourth weekly straight losses

18/08/2023 Argaam

Gold prices rose on Friday amid the decline in the US dollar and bond yields, as well as continued risks about the potential Fed interest-rate hike.

 

Investors are anticipating the statement of Federal Reserve Chairman Jerome Powell regarding his economic vision at the central bankers' meeting that will be held at Jackson Hole on Aug. 25.

 

Gold prices for September delivery increased 0.37% to $1,921 an ounce at 11:20 am Makkah time.

 

Spot prices also went up 0.18% to $1,892.

 

Silver futures for December delivery increased 0.49% to $23.16 per ounce, and spot platinum prices were up 0.42% at $900.7.

 

The dollar index, which measures the performance of the US currency against a basket of six major currencies, declined 0.13% at 103.4 points.

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