Gold rises at the beginning of the week, supported by the decline in the dollar

Gold prices rose on Monday, boosted by buying after a sharp drop in the previous session and halting the dollar’s rally, although an imminent interest rate hike by the US Federal Reserve limited gold’s appeal.

And gold rose in spot trading 0.5 percent to $ 1650.49 an ounce as of 0149 GMT. Prices fell more than one percent on Friday, and recorded their largest weekly decline since July.

And US gold futures rose 0.4 percent to $ 1656.00. The dollar index fell 0.1 percent, easing some pressure on gold priced in dollars.