WASHINGTON (dpa-AFX) - Gold prices gained close to a quarter percent amidst a general weakness in the U.S. Dollar and a weak stock market sentiment.
The Dollar weakened against major currencies, causing the Dollar Index to drop to as low as 112.30. It is currently at 112.61, lower by 0.33 percent on an overnight basis. The peak for the day was 113.09.
Spot Gold rallied 0.29 percent to touch $1,633.85 per troy ounce. The day's range has been between $1,622.53 and $1,640.13.
Gold Futures for December settlement strengthened 4 points to trade at $1,638.15, up 0.24 percent on an overnight basis. Prices oscillated between $1,626.35 and $1,644.65.
The rise in the prices of the non-interest-bearing yellow metal is despite anxiety about stubborn inflation and potential central bank action sending bond yields to period highs.
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