Gold Rises on Weaker Dollar and Anticipation of Federal Reserve Decision
05/05/2025 09:30
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Gold prices saw a slight increase on Monday morning, supported by a weaker U.S. dollar, as investors await more clarity on trade policies between the United States and its partners, and look ahead to this week’s monetary policy decision by the Federal Reserve.
The spot price of gold rose by 0.2% to reach $3,245.01 per ounce, while U.S. gold futures climbed by 0.3% to $3,252.00.
The U.S. dollar index (DXY) fell by 0.1% against major currencies, making gold more attractive to holders of other currencies.
