Gold rises amid falling dollar and bond yields

2023-12-14 17:42:06

The US Central Bank kept interest rates unchanged for the third meeting in a row, as was widely expected. This led to the dollar falling to its lowest level in two weeks against its competitors, making gold less expensive for holders of other currencies. US benchmark ten-year bond yields also fell to the lowest level since August. Low interest rates usually support gold prices, which do not generate returns.

As for other precious metals, silver rose in spot transactions 0.4 percent to $23.83 per ounce, platinum increased 0.3 percent to $937.25, and palladium rose 0.2 percent to $994.82.

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