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Gold Rises on Weak Dollar as US-Iran Nuclear Talks Begin

Investing.com News •
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Gold prices edged higher in Asian trading on Thursday as a weaker dollar and U.S. trade tariff jitters supported safe-haven demand, while investors awaited the start of key nuclear talks between Washington and Tehran later in the day. Spot gold was last up 0.73% at $5,188.55 an ounce by 21:22 ET (02:22 GMT), with the greenback slipping 0.2% during Asian hours.

Market participants are closely watching diplomatic developments as U.S. and Iranian officials prepare to meet in Geneva for renewed discussions over Tehran's nuclear program. Any signs of escalating tensions or setbacks in negotiations could further boost demand for gold. Traders are also assessing the impact of newly announced U.S. tariffs following a recent ruling by the U.S. Supreme Court that reshaped the legal framework for certain trade measures.

The introduction of fresh global levies of up to 15% has added to uncertainty over the global trade outlook. Global markets await U.S. economic data later in the day, including weekly jobless claims figures, for further clues on the trajectory of monetary policy. So far this year, bullion has remained well supported by persistent geopolitical tensions, central bank purchases and portfolio diversification flows.