Sun. Oct 24th, 2021

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Gold prices ascend

1 min read

Gold edged higher on Tuesday buoyed by a softer dollar, with investors focusing on the first U.S. presidential debate and progress on a new U.S. stimulus bill.

Spot gold rose 0.15% to $1,883.69 per ounce by 0058 GMT. Prices rose 1.1% in the previous session, its biggest one-day gain since late August.

U.S. gold futures were up 0.4% at $1,889.70.

The dollar index was down 0.1% against rivals, having recorded its biggest daily percentage drop in a month on Monday.

A weaker dollar makes gold cheaper for holders of other currencies.

President Donald Trump and former Vice President Joe Biden will square off in their first presidential debate later in the day, with five weeks to go until the November 3 general election.

Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.16% to 1,268.89 tonnes on Monday.

Silver fell 0.1% to $23.68 per ounce, platinum fell 0.2% to $880.56 and palladium gained 0.5% to $2,265.25

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