Gold Price Prediction: Gold rate to fall big in March? Details here

Gold prices on Thursday went up as uncertainty over U.S. tariff policy boosted the metal's safe-haven appeal, while investors awaited further ‌details on U.S.-Iran ⁠talks ⁠later in the day. Spot gold was up 0.1 per cent at $5,174.07 per ounce. Bullion had hit a more-than-three-week high on Tuesday. U.S. gold futures for April delivery were down 0.7 per cent at $5,190.30.


The U.S. ​dollar eased, making dollar-denominated commodities more affordable for holders of other currencies. "Iran-U.S. persisting tensions and the uncertainty surrounding the global economy with (President Donald) Trump's tariffs are a bullish ​catalyst," said Carlo Alberto De Casa, external analyst at ⁠banking group ‌Swissquote.



Gold prices scaled ⁠a record high of $5,594.82 on January 29 and were up 20 per cent so far this year. "The global gold rush does not seem to be over... Overall the sentiment remains ​positive with strong buys coming from Asia and from central banks," De Casa said.


Non-yielding gold is seen as a safe store of value during times of geopolitical and economic uncertainty. The U.S. tariff rate for some countries will rise ‌to 15 per cent or higher from the newly imposed 10 per cent, U.S. Trade Representative Jamieson Greer said on Wednesday, without naming any specific trading partners ​or giving ​further details.


U.S. envoy Steve Witkoff and Trump's son-in-law Jared Kushner are ​due to ​meet an Iranian delegation for a third round of nuclear talks ⁠later in the day in Geneva. Trump briefly laid out ​his case for a possible attack on Iran in his ​State of the Union speech on Tuesday, saying he would not allow a country he described as the world's biggest sponsor of terrorism to have a nuclear weapon.


On the data front, investors await the weekly U.S. jobless claims data, due later in the day. Spot silver fell 2.1 per cent to $87.52 per ounce. Spot platinum slid 0.5 per cent to $2,275.65 per ounce, while palladium also shed 0.5 per cent to $1,785.79.