Khaberni - Gold prices rose on Thursday, supported by the dollar's decline and increased demand for safe haven assets amid the uncertainty surrounding US tariff policy and talks between the United States and Iran.
Gold rose in spot transactions by 0.3% to $183.85 per ounce by 02:58 GMT. Gold prices recorded their highest level in more than three weeks on Tuesday.
The US futures contracts for April delivery of gold decreased by 0.5% to $200.50.
Christopher Wong, an analyst at OCBC, said "The price movement is a reflection of the return of the uncertainty surrounding the new policy (regarding tariffs) into consideration and geopolitical concerns and the dollar's drop."
The dollar fell at the start of today's trading, as Nvidia's better-than-expected earnings boosted investor sentiment, while the markets await details on the latest US tariffs on imports.
The fall of the dollar can decrease the price of gold denominated in dollars relative to holders of other currencies.
Iran and the United States are scheduled to hold the latest round of talks in Geneva on Thursday aiming to settle their long-standing dispute over the nuclear program and avoid new US military strikes on Iran following widespread military enhancements.
Regarding other precious metals, silver in spot transactions decreased by 0.6% to $88.84 per ounce after rising to its highest level in three weeks on Wednesday.
Platinum in spot transactions decreased by 0.5% to $2274.16 per ounce, while palladium fell by 1.4% to $1770.05. Both metals reached their highest levels in three weeks during the previous session.
