2023-05-15 05:15:13
Gold prices rose as talks to raise the US debt ceiling faltered and fears of an economic slowdown prompted some dealers towards the precious metal, which is a safe-haven asset.
And gold rose in spot trading 0.1 percent to 2013.79 dollars, following declining over three sessions. And US gold futures fell 0.1 percent, to 2018.20 dollars.
Gold prices tend to rise during times of economic and financial uncertainty, but raising interest rates undermines the appetite for the non-interest-bearing metal. However, gold lost some of its luster due to the rise of the dollar index to its highest level in five weeks once morest major currencies, which increases the cost of buying gold for holders of other currencies.
And silver increased in spot trading 0.4 percent to 24.01 dollars. Platinum rose 0.3 percent to $1,052.44. Palladium rose 0.6 percent to $1,518.06.
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