Spot gold was up 1.4% at $1,838 per ounce, while US gold futures rose 1.4% to $1,837.40.
Kyle Rodda, an analyst at IG Markets, said ongoing geopolitical considerations, including concerns around Ukraine and Russia, could be a push to buy gold for some, but “in the big picture, that issue is minor compared to Fed policy.
US Secretary of State Antony Blinken said on Wednesday that Russia could launch a new attack on Ukraine in “a very short time” but that Washington will continue diplomacy while it can, despite not being sure what Moscow wants. Really.
The The dollar’s decline made bullion cheaper for investors with other currencies, while the retreat in 10-year US Treasury yields from a two-year high also boosted demand for the metal..
Rising rates tend to reduce the attractiveness of bullion, which does not bear interest.
In other precious metals, spot silver was up 2.3% at $23.98 an ounce and platinum was up 4.8% at $1,028.
Source From: Ambito
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