By Mahmoud Gamal
Mubasher: Gold prices registered in early Thursday's trade the highest level in more than two weeks following the US Federal Reserve's decision to leave key interest rates unchanged and the fall of dollar.
By 4:35am GMT, spot gold futures rose 0.6% to $1,331.6 per ounce.
US gold futures were higher 0.4% to $1,336.5 an ounce, which is the highest mark in September.
Silver similarly recorded the highest monthly level after increasing 0.6% to $19.88 an ounce.
Meanwhile, the dollar index edged down 0.06% to 95.46 against a basket of currencies.
The dollar index's decline coupled with the US Fed decision on key policy rates, which prompted investor to renew their confidence in gold as safe havens and to build new positions, said currency market analyst Mohamed Mosa.
Gold prices are likely to reach $1,350 – 1,380 per ounce over the coming sessions, the analyst concluded.
