Gold prices rose today after the Federal Reserve (the US central bank) indicated that the end of the monetary tightening cycle may be on the horizon, after raising interest rates by 25 basis points yesterday. Gold in the spot market rose 0.4 percent to $1,976.80 an ounce by 0910 GMT, while US gold futures rose 1.5 percent to $1,979.20. The US dollar index fell 0.2 percent, making gold more attractive to buyers in other currencies. As for other precious metals, silver in the spot market fell 0.8 percent to $ 22.85 an ounce, while platinum increased 1.1 percent to $ 988.23, and palladium rose 0.9 percent to $ 1464.01. And gold prices had stabilized in spot transactions yesterday, Wednesday, at 1940.11 dollars an ounce, after falling 2 percent yesterday, Tuesday, with some investors reluctance to trade, pending the decision of the (Central Bank of America) regarding interest rates and a clear picture regarding the future of monetary policy. US gold futures rose 0.1 percent to $1,942.10.
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