Dubai – Mubasher: The gold price rose on Thursday, gaining more than $6.5 per ounce, thus rebounding from the record declines in previous sessions during which the precious metal sank to its lowest level in six years.
Meanwhile, the U.S. dollar retreated Thursday against a basket of global currencies after minutes of the Federal Reserve meeting that bolstered expectations of a rate rise next month.
The minutes from last month’s Federal Reserve meeting showed most officials anticipated economic conditions could be strong enough for a December interest-rate increase.
At 8:28 GMT, gold price rose by 0.60% to $1,074.60 per ounce. Silver rose by 0.67% to $17.175 per ounce.
