Gold prices rise as dollar weakens

28/08/2025 Argaam
December delivery contracts for the yellow metal falls 0.1% to $3,445 an ounce

December delivery contracts for the yellow metal falls 0.1% to $3,445 an ounce

Gold prices closed higher on Thursday, supported by a weaker US dollar, as investors awaited key inflation data due Friday in the US.

 

December gold futures gained 0.5% ($17.5) to settle at $3,466.1 an ounce.

 

The US Dollar Index—which measures the greenback against a basket of six major currencies—fell 0.4% to 97.83 as of 9:54 pm Makkah time.

 

Investors are closely watching Friday’s release of the Personal Consumption Expenditures (PCE) price index—the Federal Reserve’s preferred inflation gauge—for clues on the future path of interest rates.

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