Doha: Gold prices climbed on Monday as a softer dollar and renewed trade tensions fueled safe-haven demand. Spot gold was up 0.7% at $3,223.55 an ounce, and US gold futures gained 1.3% to $3,228.70.
According to Qatar News Agency, gold shed more than 2% on Friday and posted its worst week since November 2024, as increased risk appetite from the US-China trade agreement weighed. Despite the recent downturn, the current market conditions have seen a reversal with the dollar’s decline and geopolitical concerns driving investors back to gold.
In addition to gold, other precious metals also saw gains. Spot silver firmed 0.5% to $32.42 an ounce, platinum rose 0.3% to $990.71, and palladium gained 0.5% to $965.23. These movements indicate a broader interest in precious metals amidst growing uncertainty in global markets.