NEW YORK: Gold prices edged higher on Thursday as the U.S. dollar softened, lifting demand for the metal in international markets. Spot gold rose 0.5% to $5,195.99 an ounce by 0639 GMT, holding near levels last seen around a more than three-week high earlier in the week. Traders tracked currency moves and fresh headlines on U.S. trade policy and geopolitics as bullion remained sensitive to shifts in risk appetite and interest-rate expectations.
The dollar started the Asian session on weaker footing after a strong earnings outlook from U.S. chipmaker Nvidia helped improve sentiment in equities, while investors awaited more detail on U.S. tariff plans. The U.S. dollar index, which measures the greenback against six major peers, was steady at 97.585. Benchmark U.S. 10-year Treasury yields were little changed, last up 0.2 basis points at 4.0442%, keeping borrowing-cost signals broadly stable for precious metals markets.
U.S. gold futures for April delivery slipped 0.2% to $5,213.50, a modest pullback that left futures trading at a premium to spot prices. U.S. Trade Representative Jamieson Greer said on Wednesday that tariff rates for some countries would rise to 15% or higher from the newly imposed 10%, without naming specific trading partners or providing further detail. Weekly U.S. jobless claims data were due later Thursday, an update closely watched across markets.
Tariff and diplomatic focus
Alongside trade developments, investors monitored a scheduled round of talks between Iran and the United States in Geneva on Thursday, the latest effort to address their longstanding nuclear dispute. The talks come amid heightened tensions and increased military activity in the region that have kept geopolitical risk on traders’ radar. Gold is often used by investors as a hedge during periods of uncertainty, and shifts in perceived risk can influence near-term flows into bullion and other defensive assets.
Moves across other precious metals were mixed but broadly firm after a strong midweek session. Spot silver edged 0.1% higher to $89.48 an ounce after rising to a three-week high on Wednesday. Spot platinum gained 0.8% to $2,305.20, while palladium eased 0.1% to $1,793.84. Both platinum and palladium also hit three-week highs in the previous session, underscoring the recent strength in white metals alongside elevated volatility.
Silver, platinum and palladium
Gold’s latest advance followed sharp swings earlier in the week as currency moves and policy headlines drove short-term positioning. On Tuesday, bullion pulled back from a more than three-week high as the dollar firmed and some investors took profits, with spot gold down 1.4% to $5,158.24 in late U.S. trading. Prices rebounded on Wednesday, when spot gold climbed 1.1% to $5,202.28 by U.S. afternoon trade, before steadying again in Thursday’s session.
Interest-rate pricing remained a key backdrop for bullion, which does not pay interest and can be influenced by changes in real yields and the dollar. Fed funds futures indicated investors were overwhelmingly expecting the Federal Reserve to keep rates unchanged at its March 18 meeting, while markets were still pricing in three quarter-point cuts over the rest of 2026. – By Content Syndication Services.