The gold’s price is growing on the weakening of the dollar

In the morning trading on Friday, the gold price display growth. By 8.22 Moscow time, the price of its troy ounce increased by $4.80 or 0.27% to $1,826.20. The silver ounce price of rose 0.26% to $23.223. The precious metals rise in price contributes to the weakening of the US currency. The dollar index fell to 94.68 points or 0.11%. The fall of the US dollar is always seen as a favorable element in the gold market. Its purchase becomes more profitable for those investors who own different currency. The dollar began to fall in price after the statistics release in the United States. As it became known, the figure of new applications for unemployment benefits in the first week of this year increased by 23,000 compared to the previous week to 230,000. The statistics came as a surprise to analysts, as they predicted a decrease in the number of applications.


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Arseny Kudrin

Publicist, trader

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