Gold prices climbed again on Thursday, marking a third straight session of gains as investors reacted to a weaker US dollar and lower Treasury yields.
Spot gold rose 0.3% to $4,701.19 per ounce, while US gold futures for June delivery gained 0.4% to close at $4,710.
The rise came as markets closely watched ongoing developments between Washington and Tehran. Iran also announced that it is reviewing a US proposal aimed at ending the conflict in the region.
A weaker dollar—down about 0.1%—and a 0.6% drop in US bond yields helped make gold more attractive to investors.
Analysts expect gold prices to remain volatile in the near term, with forecasts ranging between $4,600 and $5,100 per ounce.
Other precious metals also saw movement:
- Silver rose 0.5% to $77.68 an ounce
- Platinum stayed nearly unchanged at $2,060.18
- Palladium slipped slightly by 0.1% to $1,536.54 an ounce
Overall, investors continue turning to gold as uncertainty around global tensions and economic conditions remains high.
