Gold prices are growing Tuesday, Prime reported.

The price of the February gold futures contract on the Comex grew by 0.46%, or by $ 8.35 - to $ 1,838.25 per troy ounce. March silver futures rose in price by 1.56% - to $ 25.253 per ounce.

Gold quotes remain sensitive to the dynamics of the dollar due to the absence of significant factors that could affect the demand for the metal. The dollar index is declining on Tuesday after reaching a maximum since December 21. The cheaper dollar supports gold prices, which then becomes cheaper for foreign exchange holders.

Besides, investors expect a boost to the US economy. US President-elect Joe Biden presented a plan to financially support the country's economy for $ 1.9 trillion. The plan was approved by Democrats in Congress.

A large amount of the stimulus package creates the risk of rising inflation, which will positively affect the value of gold.