Gold prices edged higher in Asian trading on Monday as the dollar weakened, while uncertainty surrounding U.S. trade tariffs and Russia-Ukraine peace talks supported bullion's safe-haven appeal.
Spot Gold rose 0.3% to $2,865.69 per ounce, while Gold Futures expiring in April gained 0.9% to $2,873.59 an ounce by 00:35 ET (05:35 GMT).
Dollar dips amid tariff uncertainty; pushes gold up
U.S. President Donald Trump announced 10% additional tariffs on China and reaffirmed his tariff timings for 25% levies on Mexico and Canada last week.
However, on Sunday, U.S. Commerce Secretary Howard Lutnick said that Trump will determine the exact tariff levels on Tuesday.
Meanwhile, the recent breakdown in talks between Ukrainian President Volodymyr Zelenskyy and U.S. President Donald Trump has diminished prospects for a Russia-Ukraine peace agreement, leading to heightened concerns over prolonged geopolitical instability.
The US Dollar Index fell 0.4% in Asia hours, retreating from a two-week high.
With the weaker greenback, and prospects of longer-than-expected geopolitical instability, gold maintained its safe-haven demand.
Other precious metals also gained on a weaker greenback. Platinum Futures jumped 1.2% to $949.10 an ounce, while Silver Futures gained 0.7% to $31.730 an ounce.
Source: Investing.com
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