Gold prices rebounded on Thursday from the almost three week lows reached in the previous session as the dollar weakened broadly.
December gold futures were up 1.5% to $1,230.60 by 08:58 AM ET (12:58 GMT) on the Comex division of the New York Mercantile Exchange.
Gold prices settled at $1,212.30 on Wednesday, which was the lowest close since October 11.
The yellow metal ended October with a gain of 1.75%, which was the largest monthly gain since July 2017.
Golds gains came as the dollar weakened broadly against a currency basket. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.66% to 96.26 after gaining 2.9% in October.
A weaker dollar can make dollar denominated assets, like gold, less expensive to potential buyers holding other currencies.
Elsewhere in metals trading, December Silver advanced 2.61% to $14.59 a troy ounce, while January Platinum was trading at $857.10, up 1.67% for the day.
Among base metals, December Copper added on 0.66% to trade at $2.684.
