Gold rises as the dollar falls to its lowest level

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Gold prices rose Tuesday as the dollar fell to a three-week low and the precious metal was also supported by continuing concerns over trade tensions between the United States and China. By 0770 GMT, spot gold rose 0.2 percent to $ 1,347.81 an ounce, while in US futures it settled at $ 1350.60 an ounce. The dollar index, which tracks the performance of the greenback against a basket of currencies, fell to 89.270 earlier in the session, its lowest level since March 28. The dollar was down 0.2 percent at 106.93 yen, moving away from a seven-week high of 107.78 yen hit on Friday as traders prepared for a meeting between US President Donald Trump and Japanese Prime Minister Shinzo Abe on Tuesday. At the same time, investors’ appetite for risk has been boosted by expectations that Syria’s immediate military escalation is unlikely to follow rocket strikes by the United States, Britain and France over the weekend, limiting gains in the yellow metal. Gold is often seen as an alternative investment tool in times of political and financial uncertainty. Silver rose 0.7 percent to $ 16.72 an ounce, while platinum rose 0.5 percent to $ 928.99 an ounce. Palladium rose 0.5 percent to $ 1006 an ounce, after rising to its highest level since March 1 at $ 1012.10 in the previous session. News link in the newspaper Harmony: Gold rises as the dollar falls to its lowest level

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