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U.S. dollar drops, gold prices ramp up by 0.4 percent

London, Oct 25 (Prensa Latina) Gold price rose Tuesday by 0.4%, following a drop in USD closely related to rising forecasts of possible low pace of interest rate hikes in the United States.

Shortly after midday, spot gold on the London Metal Exchange rose to $1,654.58 per ounce. Meanwhile, in the United States gold increased 0.2% to be getting on $1,658 dollars.

As to spot silver, it rose 0.4% to $19.34 per ounce, platinum lowed 0.8% to $917.53 and palladium dropped 2.1% to $1,926.75.

On Tuesday, the USD index was down about 0.9%, making gold less expensive for foreign buyers.

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