The value of gold is up 1 percent on Monday morning, according to stock exchange quotations. The weakening of the dollar against world currencies, especially the yen, supports the quotation of the precious metal.
The price of February gold futures on the New York Comex Exchange is rising by $19.35, or 1%, to $1,948.78 per troy ounce. March silver futures are up 0.63% to $23.77 an ounce.
At the same time, the dollar is down 0.3% against the yen and 0.1% against the euro. A cheaper dollar makes gold more affordable to buy in another currency.