Gold up to $1325 as U.S. Dollar Declines

Gold futures rose to a 14-week high as the dollar’s decline boosted demand for the precious metal as an alternative investment. Platinum climbed to the costliest since September on supply concerns, topping $1,500 an ounce.

The greenback touched a seven-week low against a basket of 10 currencies as the Institute for Supply Management said that its factory index was little changed in June from May. Gold advanced 3 percent in the second quarter as the dollar fell 1.2 percent.

This year, gold has climbed 10 percent as escalating violence in Iraq and Ukraine boosted demand for the metal as a haven. The Federal Reserve has said that U.S. interest rates will stay low for a “considerable time.”


Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at Visit to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.