Gold rises to its highest level in a week with the decline of the dollar

Gold prices rose by about 1% today, recording gains for the third consecutive session, as the US dollar fell to its lowest level in a week, with the Chinese yuan rising after industrial activity in China grew at the fastest pace since April 2012.

The spot gold price rose 0.6% to $1838.20 an ounce, and earlier in the session it recorded $1844.5, its highest level in a week, and US gold futures rose 0.5% to $1845.40 an ounce. As for other precious metals, silver rose 0.5% to $21.01 an ounce, palladium rose 1.2% to $1434, and platinum rose 0.3% to $955.36, recording earlier in the session $966.46, its highest level in two weeks.