Gold Rises with Losses in the US currency

Gold prices rose today more than 1% with the US dollar tumbling 0.1% as Federal Reserve Chairman Jerome Powell's speech in a hypothetical Jackson Hole seminar is expected to provide more insights into the US central bank’s strategy on inflation and monetary policy.

Spot gold rose 1% to $ 1948.07 an ounce after falling to its lowest level in two weeks earlier in the session, and US gold futures rose 1.5% to $ 1952.50 an ounce.

As for the other precious metals, silver rose 3.5% to $ 27.34 an ounce, and platinum rose 0.3% to $ 929.91 an ounce, and palladium also rose 0.9% to $ 2,183.43 an ounce..