Gold Stability Amid Middle East Tensions as Dollar Weakens and Futures Rise
Gold prices stabilized on Tuesday as investors remained cautious due to tensions in the Middle East, following comments from U.S. President Donald Trump suggesting that the war with Iran might soon come to an end.
Spot gold fell by 1% to $5,131.24 per ounce, while U.S. gold futures for April rose by 0.7% to $5,141.40. The dollar weakened by 0.4%, making gold cheaper for holders of other currencies.
Markets are awaiting the release of the U.S. Consumer Price Index for February tomorrow, along with the Personal Consumption Expenditures index – the Federal Reserve’s preferred measure of inflation – scheduled for Friday.
In other precious metals, silver rose by 0.4% in spot trading to $87.32 per ounce, whereas platinum dropped by 0.6% to $2,168.52, and palladium decreased by 0.1% to $1,689.11.
