Gold Prices Rise Amid Increasing US-Iran Tensions
Gold prices moved higher on Thursday, building on a gain of more than 2 percent in the previous session. The advance has been fueled by rising tensions between the United States and Iran, prompting investors to seek safety in traditional safe-haven assets such as gold.
Spot and Futures Prices Hold Firm
Spot gold edged up 0.2 percent to $4,989.09 per ounce, while US gold futures were largely unchanged at $5,008.60. Market analyst Jamie Dutta said investor anxiety remains elevated due to the possibility of military action involving Iran.
Limited Progress in Diplomatic Talks
Although negotiators reported some advancement in discussions with Iran, key disagreements have yet to be resolved. Senior US security officials indicated that military assets in the region are expected to be fully positioned by mid-March, reflecting continued caution.
Federal Reserve Signals Steady Policy
Minutes from the Federal Reserve’s January meeting showed broad agreement among policymakers to keep interest rates unchanged for now. However, several officials signaled they would consider rate increases if inflation pressures intensify. Investors are closely watching upcoming jobless claims data and the Personal Consumption Expenditures report for further policy clues.
Mixed Performance in Other Precious Metals
In the broader metals market, spot silver climbed 0.9 percent to $77.87 per ounce, supported by tightening supply conditions. Meanwhile, platinum and palladium prices declined, reflecting softer demand dynamics.
