Doha: Gold prices rose on Thursday for the fourth consecutive session, touching their highest level in seven weeks, supported by a weaker US dollar as traders assessed the likelihood of the Strait of Hormuz reopening. Spot gold gained 0.2% to $4,254.98 per ounce, after reaching its highest level since June 18 earlier in the session. In the previous session, gold recorded its largest single-day gain since February.
According to Qatar News Agency, US gold futures also rose 0.2% to $4,312.80. Among other precious metals, spot silver fell 0.5% to $61.78 per ounce, while platinum climbed 0.8% to $1,755.18, after reaching its highest level since June. Palladium rose 0.8% to $1,748.08, marking its third consecutive session of gains.