Gold prices continue to rise amid the decline of the US dollar

Gold prices last week rose to their highest level in 15 months, received support from the weakening US dollar. The gold futures for June rose by 1.9 percent to 1290.50 dollars an ounce, and the price increase was observed for the fifth consecutive day. Gold prices in Friday's session reached 1299 dollars, which is the highest value since January 2015.
In addition, the rise in prices last week was the most significant of 17 March, when prices rose by 2.9%. The dollar fell to its lowest level since May 2015.
The weakening of the dollar generally increases the price of gold, as the precious metal becomes more affordable for holders of other currencies. Last week the dollar fell by 2%, as the Federal Reserve in the country predicted that the pace of interest rate increases will slow this year.
The Bank of Japan on Thursday left its monetary policy unchanged, which led to a sharp rise in the yen against the dollar. So she created a kind of chaos in financial markets, said the analyst, as according to him, these conditions will surely support gold.