Gold prices rose on Monday as the dollar eased following US President Joe Biden's decision to withdraw from the 2024 presidential race, with investors turning to bullion as a hedge against an uncertain political and market outlook. Spot gold rose 0.2 percent at USD 2,405.40 per ounce, while US gold futures gained 0.3 percent to USD 2,407.20. The dollar eased on Monday in the initial reaction to US President Joe Biden's decision to end his reelection campaign, clearing the way for another Democrat to challenge Donald Trump. Among other metals, spot silver fell 0.5 percent to USD 29.11/oze, platinum slipped 0.3 percent to USD 959.99, while palladium rose 1.1 percent to USD 916.18. Source: Qatar News Agency
Related Posts
Dollar Rises Slightly Amid Anticipation of US, Japanese Monetary Policy Decisions
The dollar rose slightly Monday, as traders await monetary policy decisions scheduled to be taken by the Federal Reserve (the US central bank) and the Bank of Japan on Wednesday and the release of the US jobs report for July on Friday.
The dollar ind…
China’s Industrial Profits Up 4.3% in January-April
Beijing, Profits of China’s major industrial firms increased 4.3% year on year in the first four months of the year, official data showed Monday.
The growth rate was the same with that registered in the first quarter, according to the National Bureau…
US Stocks Close Higher
US stocks closed with slight gains on Tuesday.
The S andP 500 gained 13.96 points, or 0.26 percent, to end at 5,322.09 points, while the Nasdaq Composite gained 38.51 points, or 0.23 percent, to 16,833.38.
The Dow Jones Industrial Average rose 74.87…