Gold prices rose on Thursday amid a decline in the US dollar and as the widening conflict in the Middle East prompted investors to seek refuge in safe-haven assets.
اضافة اعلان
Spot gold climbed 0.8% to $5,176.69 per ounce by 01:01 GMT, while US gold futures for April delivery increased 1% to $5,186.30.
The US dollar edged lower, making dollar-denominated gold less expensive for holders of other currencies.
The conflict between the United States and Iran escalated sharply on Wednesday after a US submarine sank an Iranian warship off the coast of Sri Lanka, resulting in at least 80 fatalities. Additionally, NATO air defenses intercepted an Iranian ballistic missile launched toward Turkey.
Gold, traditionally viewed as a safe-haven asset, has surged by approximately 20% year-to-date, hitting consecutive record highs amid growing global political and economic uncertainty.
Investors are now awaiting the US weekly jobless claims data due later today, as well as the US employment report for February scheduled for release this Friday.
Other Precious Metals:
Spot Silver: Rose 1.2% to $84.43 per ounce.
Spot Platinum: Gained 2.1% to $2,193.65.
Spot Palladium: Increased 0.5% to $1,683.
Reuters
