Gold prices climbed on Thursday, supported by a decline in the U.S. dollar and increased demand for safe-haven assets. This comes amid lingering uncertainty surrounding U.S. tariff policies and the high-stakes talks between the United States and Iran.
اضافة اعلان
By 02:58 GMT, spot gold rose 0.3% to $5,183.85 per ounce, after hitting a more than three-week high on Tuesday. Meanwhile, U.S. gold futures for April delivery eased 0.5% to $5,200.50.
"Price action is a reflection of the re-emergence of policy uncertainty regarding tariffs, geopolitical concerns, and a softer dollar," said Christopher Wong, a strategist at OCBC.
Market Drivers
The U.S. dollar retreated in early trading as better-than-expected earnings from Nvidia boosted investor sentiment, even as markets await further details on the latest U.S. import tariffs. A weaker dollar typically makes dollar-denominated gold more affordable for holders of other currencies, driving up demand.
On the geopolitical front, eyes are turned to Geneva, where Iran and the United States are scheduled to hold a new round of indirect talks. The negotiations aim to resolve the long-standing nuclear dispute and avert potential U.S. military strikes following a massive military buildup in the region.
Other Precious Metals
The rally in gold influenced other metals, though some saw technical corrections after recent gains:
Spot Silver: Fell 0.6% to $88.84 per ounce, following a three-week high reached on Wednesday.
Platinum: Dropped 0.5% to $2,274.16 per ounce.
Palladium: Declined 1.4% to $1,770.05 per ounce.
Source: Reuters
