Gold Boosts on Falling Dollar

Today's fall for the U.S. dollar has been instrumental in boosting the price of spot gold. The precious metal is currently trading at $1,281.80 - up $2.80 per ounce.

The U.S. dollar lost nearly 7/10 of a percent today. This has led the currency to fall on its index by 64 points to 93.745. The loss in this currency is boosting the gold index by about $9.10 per ounce.

As for the U.S. Federal Reserve rate hike for December, market speculators are now considering that the possibility of a rate hike is up again despite recent disappointing U.S. economic data.