Gold prices rise, trade above $1,800

13/07/2021 Argaam

Gold prices rose on Tuesday, backed by the stability of the US dollar, amid continued concerns about the COVID-19 pandemic.

 

Spot gold rose 0.2% to reach $1,810.14 per ounce, and gold futures contracts for August rose 0.3%, or $5.20, to reach $1,811.10 per ounce, by 10:40am Makkah time.

 

Elsewhere, silver fell 0.6% to $26.40 per ounce, palladium declined 0.4% to reach $2,845.7 per ounce, and platinum settled at $1,123 per ounce.

 

The dollar index - which measures the performance of the US currency against a basket of six currencies - settled at 92.26 points, with expectations of inflation data to be released this week.

 

This is while waiting for Federal Reserve Chairman, Jerome Powell, to testify before Congress on July 14 and July 15.

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