Singapore, April 15: Gold prices rose more than 1 percent on Tuesday, rebounding from a one-week low, supported by a weaker dollar and easing inflation concerns as oil prices fell on optimism over de-escalation with Iran.
Spot gold climbed 1.1 percent to $4,788.76 per ounce, while US gold futures for June delivery advanced 1 percent to $4,812.80.
Bullion had retreated in the prior session to its lowest level in nearly a week, pressured by escalating geopolitical tensions and reports that the United States was preparing potential measures targeting Iranian ports, prompting strong reactions from Tehran and raising concerns over further escalation.
The US dollar, meanwhile, fell to its weakest level in more than a month, making gold more attractive to holders of other currencies.
Among other precious metals, spot silver jumped 3.2 percent to $77.98 per ounce, platinum gained 0.7 percent to $2,084.90, and palladium rose 0.6 percent to $1,583.82.
Analysts said the rebound in gold prices reflects renewed investor demand for safe-haven assets amid lingering geopolitical uncertainties and shifting expectations around global monetary policy. Market participants are closely watching signals from major central banks, particularly the US Federal Reserve, for further guidance on interest rate trajectories, which remain a key driver of bullion prices.
Investors are also keeping an eye on upcoming economic data, including inflation and employment figures, which could influence the outlook for interest rates and currency movements.
Source: Qatar Tribune
