By: Mahmoud Gamal
Mubasher: Gold's prices rose on Tuesday with the fall of the US dollar because of the anxiety before Fed Chair Janet Yellen's statement before the congress regarding the rate hike.
By 4:05 GMT, Spot gold inched up 0.20% to $1,228 per ounce.
US gold futures were higher $2.75 to the mark of $1,228.55 per ounce.
Spot silver also added 0.26% to $17.867 per ounce.
US dollar index shed 0.13% to 100.87.
Technical analyst, Mohamed Al Ansary, expected that Yellen's statements regarding the rate hike will be calm, which will weaken the US dollar more on the short term.
He added that gold is receiving support current amid the political and economic fog in the US and Europe.
Al Ansary noted that US dollar index is technically on the rising track on the long term.
Translated by: Sara Ghali
