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Gold prices edged higher in Asian trading on Thursday, supported by a weaker U.S. dollar and renewed uncertainty surrounding U.S. trade tariffs, while investors also looked ahead to closely watched nuclear talks between Washington and Tehran later in the day.
Spot gold rose 0.6% to $5,196.55 per ounce by 01:40 ET (06:40 GMT). U.S. gold futures, however, slipped 0.5% to $5,200.54 an ounce.
The U.S. Dollar Index eased 0.2% during Asian hours, pulling back from recent one-month highs and making dollar-denominated bullion more attractive to holders of other currencies.
U.S.–Iran talks in focus as trade jitters linger
Attention is firmly on diplomatic developments, with U.S. and Iranian officials set to meet in Geneva for renewed discussions over Iran’s nuclear programme. Any deterioration in talks or signs of rising geopolitical risk could further strengthen demand for traditional safe havens such as gold.
At the same time, traders continue to assess the fallout from newly announced U.S. trade tariffs, introduced after a recent Supreme Court ruling altered the legal footing for certain trade measures. The rollout of fresh global levies of up to 15% has added to uncertainty over the outlook for global trade and economic growth.
Markets are also awaiting key U.S. economic data later in the day, including weekly jobless claims, for fresh insight into the Federal Reserve’s policy trajectory.
So far this year, gold has remained well supported by persistent geopolitical tensions, steady central bank buying and portfolio diversification flows.
Silver steady, platinum extends rally
Other precious and industrial metals showed mixed performance.
Silver prices were flat at $89.41 per ounce after rising more than 2% in the previous session. Platinum climbed 1.3% to $2,307.60 an ounce, extending gains after a sharp rally of more than 5% on Wednesday.
Benchmark copper futures on the London Metal Exchange edged up 0.1% to $13,349.33 a ton, while U.S. copper futures were little changed at $6.02 a pound.
