
At 0754 GMT the spot price of gold was stable at $ 1202.08 an ounce.Â
US gold futures rose 0.1% to $ 1203.9 an ounce.Â
"There has been some selling in the US dollar," said John Sharma, economist at National Australia Bank. "The uptrend has declined, helping gold to improve."Â
The decline in the dollar reduces the cost of gold to other currency traders.
"We see investors and speculators grabbing gold because it has the potential to rise to 1230 and 1240 dollars," Sharma said.Â
The dollar index, which measures the strength of the greenback versus a basket of six major currencies, fell 0.2% to a 16-month high.Â
Silver rose 0.1% on spot trades to $ 14 an ounce.Â
Palladium fell 0.5% to $ 1105.25 an ounce, while platinum fell 0.1% to $ 834 an ounce
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