Gold rises with the decline of the US dollar

Gold prices rose more than 1% today as the US dollar fell to its lowest level in a week after the Federal Reserve said it would end its bond purchases in March and also paved the way for three interest rate increases by the end of 2022. Spot gold rose 1% to $1,795.41 an ounce and US gold futures rose 1.9% to $1,798.20 an ounce.

As for other precious metals, silver rose 1.5% to $22.39 an ounce, platinum rose 1.8% to $935.42 and palladium rose 8.3% to $1,728.71 an ounce.