FILE PHOTO: An employee sorts gold bars in the Austrian Gold and Silver Separating Plant 'Oegussa' in Vienna, Austria, December 15, 2017. REUTERS/Leonhard Foeger
WASHINGTON - 1 September 2020: Gold prices rose on Tuesday to their highest level in nearly two weeks, as the dollar slipped to two-year lows on bets that US interest rates would stay lower for longer under the Federal Reserve's new policy framework.
Spot gold went up 0.8%, recording $1,985.64 per ounce after hitting its highest since August 19 at $1,989.42 earlier in the session.
The dollar index dropped to a more than two-year low against its rivals. The dollar declined by 0.4% to 91.791 points.