Gold prices in London rose despite the stronger dollar
Gold prices rose Monday in London, extending its recovery from multi-month lows reached in the past month.
Spot gold prices recently rose 0.3% to 1176.20 dollars per troy ounce. Prices of other precious metals are also preferably increased.
Investor interest in gold, which is traditionally regarded as a defensive asset, resumes amid uncertainty about the growth of China's economy and in view of the forthcoming accession of Donald Trump for US president.
Spot silver prices recently decreased to 0.1%, up to 16.48 per ounce, platinum prices have increased by 0.7% to 971.90 dollars per ounce, and increased by 0.2% palladium, to 760.00 dollars per ounce.
After almost 7 weeks of reducing the price of gold at the end of last year the price of gold exchange-traded funds of funds (ETF) last week began to rise, noted Commerzbank analysts.
"Overall, I expect that the price of gold this week will be consolidated, as we expect the inauguration of US President Donald Trump, after which we will get a clearer picture of what it is going to take on the post," _ Said Phillip Futures analyst Dzhonatan Chen.
Gold strengthened, despite the rise in the dollar, which usually leads to a decrease in demand for assets denominated in dollars, such as gold. The index of the dollar Wall Street Journal, reflecting the value of the dollar against other currencies on Monday, rose 0.2%
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