Gold price exceeds $1,300 on USD decline

Singapore (Oct 14)  Gold prices rose during Friday’s trade, exceeding the level of 1,300 per ounce, amid speculations of a delay of an increase in interest rates by the US Federal Reserve.

The US dollar registered a decline in front of all major currencies, after data showed a slowdown in the basic inflation rate in the United States during last month.

The Consumer Price Index (CPI) rose by 0.1% in September, after going up 0.2% in August, settling at 1.7% year-on-year.

Mubasher