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Gold Extends Gains for 3rd Consecutive SessionSingapore, 14 Aug (ONA) — Gold prices rose for the third consecutive session today, supported by a weaker dollar and lower Treasury yields as traders’ bets on a US interest rate cut in September increase.
Spot gold rose 0.4% to $3,367.53 per ounce, and gold futures for December delivery added 0.3% to $3,416.70.
The dollar fell to near multi-week lows against rival currencies, making gold cheaper for holders of other currencies, while 10-year US Treasury yields held near their lowest levels in a week.
As for other precious metals, spot silver rose 0.2% to $38.56 per ounce, platinum fell 0.1% to $1,338.33, and palladium rose 1.3% to $1,136.70. —Ends/AG
