Today's Edition
(REUTERS)
Gold prices climbed for a fifth consecutive session on Tuesday as investors increased allocations to safe-haven assets amid heightened uncertainty in the Middle East.
Spot gold rose 0.7% to $5,362.90 per ounce as of 04:52 GMT, after reaching its highest level in more than four weeks in the previous session.
US gold futures for April delivery advanced 1.2% to $5,376.50.
Analysts said persistent uncertainty surrounding regional developments continues to support bullion demand, even as the US dollar trades near recent highs.
“Gold is attracting significant safe-haven demand as the scope and duration of the situation remain unclear,” said Tim Waterer, chief market analyst at KCM Trade.
Market participants are also monitoring energy price movements and broader inflation expectations, which can influence gold’s trajectory.
Despite a firmer dollar, which typically weighs on dollar-denominated commodities, gold has remained supported as investors prioritise capital preservation.
