Gold prices hit 10-week high as dollar weakens

Gold prices reached a ten-week high on Tuesday as the US dollar weakened after President Donald Trump’s inauguration, prompting investors to turn to the safe-haven metal amid uncertainty over his tariff proposals.

Spot gold prices increased at 8:00 AM GMT by 0.74 per cent to $2,728.40 per ounce, compared to the previous closing price of $2,708.31.

Meanwhile, US gold futures fell 0.28 per cent to $2,741.01, compared to Monday’s closing of $2,748.7.

Attribution: Amwal Al Ghad English, Reuters

Subediting: Y.Yasser