Reuters
Gold climbs on dollar retreat and conflict-driven demand
Gold prices rose on Thursday, driven by a retreating U.S. dollar and safe-haven demand on the back of the Middle East conflict while investors await further U.S. economic data for a steer on interest rate expectations. Spot gold gained 0.1% to $2,027.80 an ounce by 1300 GMT, having hit $2,031.99 on Wednesday for its highest since Feb. 9. “Gold price gains today are correlated to the softening of the U.S. dollar ahead of the release later today of the PMI number,” said Ricardo Evangelista, senior analyst at ActivTrades.