Gold rises due to the dollar’s decline and demand for safe-haven assets.
Gold Prices Rise Amid Weak Dollar and Increased Safe-Haven Demand
Gold prices experienced an uptick this Thursday, benefiting from a dip in the U.S. dollar and a renewed demand for so-called “safe-haven” assets. Spot gold rose by 0.3%, reaching $1,183.85 per ounce, after hitting a three-week high on Tuesday.
Futures Contract Movement
In the realm of U.S. futures contracts, April delivery saw a drop of 0.5%, settling at $1,200.50 per ounce, reflecting a slight correction following recent peaks.
Other Precious Metals: Silver, Platinum, and Palladium
Meanwhile, spot silver dipped by 0.6% to $21.84 per ounce, after attaining its highest level in three weeks on Wednesday. Platinum fell by 0.5% to $2,274.16 per ounce, while palladium saw a decline of 1.4%, ending at $1,770.05 per ounce. Both metals had also recently reached their three-week highs.
