Gold Rises Slightly to $1,277.16 an Ounce

Gold prices were up slightly November 19 after experiencing losses in the previous session. Spot gold prices increased $2.55 to $1,277.16 an ounce today, Reuters reported. Gold futures for December delivery also rose $2.55 to $1,275 an ounce.

A number of factors impacted gold prices today, including the continued uncertainty over the Federal Reserve’s stimulus program. Federal Reserve Bank of New York President William Dudley said while he was “more hopeful” about the economy, he believed the stimulus would remain in place for a considerable period of time, Reuters reported.

A fall in the dollar since last week has supported gold today, Saxo Bank senior manager Ole Hansen told the source.

A slower physical demand also affected gold prices, Bloomberg reported.