Gold Prices Rise Amid U.S. Tariff Uncertainty and Iran Tensions

Gold prices rose due to U.S. tariff policy uncertainty and ongoing U.S.-Iran tensions, while investors awaited details on nuclear talks. Spot gold climbed 0.2%, U.S. futures fell 0.5%, and the U.S. dollar eased. Analysts consider tariffs a bullish catalyst amidst economic and geopolitical uncertainties.

Gold prices saw a slight increase on Thursday, driven by uncertainty surrounding U.S. tariff policy which enhanced the metal's appeal as a safe-haven investment. Investors also keenly awaited the outcome of the U.S.-Iran talks scheduled for later in the day.

Spot gold rose 0.2% to $5,182.18 per ounce by mid-morning GMT. Earlier in the week, the precious metal had reached a three-week high. Conversely, U.S. gold futures for April delivery dipped by 0.5%, trading at $5,198.70. Concurrently, a weakening U.S. dollar made dollar-denominated commodities more attractive to holders of other currencies.

Further impacting gold's prosperity are escalating tensions between the U.S. and Iran, compounded by President Trump's imposition of tariffs, which have proven to be a bullish factor, according to analyst Carlo Alberto De Casa. Meanwhile, the global gold market remains robust with increased purchases from Asian markets and central banks.

(With inputs from agencies.)